Global steel and mining leader ArcelorMittal has begun delivering renewable energy to AMNS India in Gujarat, sourced from its 1-gigawatt (GW) hybrid solar and wind power facility in Andhra Pradesh. The $700 million project was developed, built, and operationalized by AM Green Energy, a fully-owned subsidiary of ArcelorMittal.
The company stated that, “the largest renewable energy venture…located in Andhra Pradesh has recently started providing clean electricity to AMNS India”.
AMNS India is a joint venture between Luxembourg’s ArcelorMittal and Japan’s Nippon Steel, with ownership split 60:40.
This project is expected to reduce AMNS India’s carbon emissions by 1.5 million tonnes per year, to support the goal of reducing the CO2 intensity of the steel it produces by 20 per cent by 2030.
ArcelorMittal CEO Aditya Mittal said that investing in renewable energy generation is an exciting new business area for ArcelorMittal.
According to reports, the project is the company’s first major renewables project to be commissioned. It is a large and ambitious project that has been completed efficiently and safely in approximately 18 months – one of the fastest projects of this scale delivered in India – with clean electricity now being provided to AM/NS India, he said.
In total, the company has 2.3 GW of renewable energy projects underway, in India, Brazil, and Argentina, and the following project is one of the several renewable energy projects. Mittal added that this initiative forms part of ArcelorMittal’s strategic expansion plans, which are projected to deliver an additional $1.9 billion in annual EBITDA once fully operational by 2027.