ArcelorMittal, Greenko to set up $600 mn renewable energy project

Project will be owned and funded by ArcelorMittal, will enable AM/NS India to prune power costs and carbon emissions

The world’s second largest steel producer, ArcelorMittal, has entered into a strategic partnership with one of India’s leading renewable energy companies, the Greenko Group, for a project that will power the decarbonisation journey of ArcelorMittal Nippon Steel India (AM/NS India).

The contours of the arrangement are like this: The two companies will work together to construct a “round-the-clock” 975 Mw of nominal solar and wind capacity project. The $600 million project, which will be supported by Greenko’s hydro pumped storage project, will be owned and funded by ArcelorMittal. Greenko will design, construct and operate the renewable energy facilities in Andhra