ArcelorMittal partners Greenko for 975MW 'round the clock' renewable project in India

• Steel supplier ArcelorMittal has actually partnered with Indian renewable company Greenko Group to develop a 975MW 'round the clock' wind and solar project in India.

The project will certainly be constructed in Andhra Pradesh and also is expected to be fully functional by mid-2024. It will be funded (around US$ 600 million) as well as owned by ArcelorMittal, with Greenko caring for its building as well as offering capacity from a pumped hydro power storage space center to come with the wind and also solar generation.

Part of the energy power from the project will be allocated to the steel manufacturer's joint venture in India, ArcelorMittal Nippon Steel India (AM/NS India), which is to authorize a 25-year off-take arrangement to purchase 250MW of renewable electrical power from the project.

Aditya Mittal, CEO of ArcelorMittal, claimed: "Big amounts of green power are just one of the key structures for both a web zero economic climate as well as a decarbonised steel sector."

Last February, a 7.4 GW electrolysis capacity green hydrogen hub in Spain was introduced with ArcelorMittal as one of the partners of the project to buy green hydrogen that will help generate green steel.