ArcelorMittal, Greenko partners for 975 MW renewable energy project
POWER & RENEWABLE ENERGY

ArcelorMittal, Greenko partners for 975 MW renewable energy project

ArcelorMittal announced its strategic partnership with Greenko Group to develop a 975 MW of nominal solar and wind capacity renewable energy projects in India.

The $0.6 billion projects will include solar and wind power capacity, backed by Greenko’s hydro pumped storage project, to overcome the intermittent nature of wind and solar power generation. The renewable energy project is expected to be commissioned by mid-2024.

ArcelorMittal will own and fund the renewable energy project. Greenko will be responsible for designing, constructing and operating the renewable energy facilities in Andhra Pradesh.

ArcelorMittal’s joint venture (JV) firm in India, ArcelorMittal Nippon Steel India (AM/NS India), will enter into a 25 years off-take agreement with ArcelorMittal to purchase 250 MW of renewable electricity per year from the project.

It will result in over 20% of the electricity requirement at the company's Hazira plant in India coming from renewable sources, reducing carbon emissions by around 1.5 million tonnes (mt) per year.

The project offers AM/NS India the dual benefits of lowering electricity costs and reducing carbon dioxide emissions. It will also provide an attractive return on investment for ArcelorMittal.

CEO and Managing Director of Greenko, Anil Kumar Chalamalasetty, told the media that it is a pioneering partnership with the leading steelmaker in the world and aims to serve as a blueprint for the adoption of renewable power for large-scale steel manufacturing plants in India. The project also contributes to India’s commitment to 500 GW of renewable energy capacity installations by 2030.

Image Source

Also read: Greenko to set up hybrid energy project in Rajasthan

ArcelorMittal announced its strategic partnership with Greenko Group to develop a 975 MW of nominal solar and wind capacity renewable energy projects in India. The $0.6 billion projects will include solar and wind power capacity, backed by Greenko’s hydro pumped storage project, to overcome the intermittent nature of wind and solar power generation. The renewable energy project is expected to be commissioned by mid-2024. ArcelorMittal will own and fund the renewable energy project. Greenko will be responsible for designing, constructing and operating the renewable energy facilities in Andhra Pradesh. ArcelorMittal’s joint venture (JV) firm in India, ArcelorMittal Nippon Steel India (AM/NS India), will enter into a 25 years off-take agreement with ArcelorMittal to purchase 250 MW of renewable electricity per year from the project. It will result in over 20% of the electricity requirement at the company's Hazira plant in India coming from renewable sources, reducing carbon emissions by around 1.5 million tonnes (mt) per year. The project offers AM/NS India the dual benefits of lowering electricity costs and reducing carbon dioxide emissions. It will also provide an attractive return on investment for ArcelorMittal. CEO and Managing Director of Greenko, Anil Kumar Chalamalasetty, told the media that it is a pioneering partnership with the leading steelmaker in the world and aims to serve as a blueprint for the adoption of renewable power for large-scale steel manufacturing plants in India. The project also contributes to India’s commitment to 500 GW of renewable energy capacity installations by 2030. Image Source Also read: Greenko to set up hybrid energy project in Rajasthan

Next Story
Real Estate

Thermocool Home Appliances Invests Rs 300 million in New Ghaziabad Plant

Thermocool Home Appliances, a leading UP-based home and kitchen appliances brand, has inaugurated a new manufacturing facility in Ghaziabad, reinforcing its growth, innovation, and sustainability commitments.Spanning 25,000 square meters, the plant features advanced automation, energy-efficient systems, and employee welfare facilities. With an initial production capacity of 1,800-2,200 units/day, the company plans to scale up to 3,000-4,000 units/day within six months and expand the facility by 50 percent over the next two years.The Rs 300 million investment will cater to rising demand across ..

Next Story
Building Material

Parallel debuts fluted glass collection, redefining luxury interiors

Parallel has launched an exquisite collection of tinted, extra-clear, and designer fluted glass, introducing a new dimension to contemporary interiors.Fluted glass, known for its vertical striations, diffuses light while sculpting silhouettes with a refined aesthetic. Parallel’s range includes smoky tinted variants, pristine extra-clear options, and metallic-infused designs, ideal for partitions, doors, and wall treatments that balance exclusivity with openness.Emphasising sensory design, the collection enhances spaces by creating dynamic light interactions. Crafted for luxury residences, ho..

Next Story
Building Material

Nivasa unveils luxury lighting collection blending artistry and innovation

Nivasa, a leader in luxury furniture design, has launched an exquisite lighting collection inspired by nature, combining sculptural aesthetics with masterful craftsmanship.Crafted from premium 304-grade stainless steel, each piece showcases a refined interplay of organic and sleek forms, offering a range of finishes for bespoke customization. Designed for grand foyers, intimate spaces, and sophisticated interiors, the collection merges contemporary finesse with global design standards.Collection highlights include:Circular Drummer’s Chandelier – A geometric yet fluid design in a light gold..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?