ArcelorMittal to Invest USD 0.9 Billion to Develop 1 GW of New RE Projects in India
ArcelorMittal has unveiled plans for three new renewable energy projects in Maharashtra, Rajasthan, and Gujarat, totalling 1 GW of solar, wind, and battery storage capacity, doubling its clean energy portfolio in India. The company will be investing about USD 0.9 billion in the three projects.
January 05, 2026. By Mrinmoy Dey
Total capital expenditure for the three projects is anticipated to be about USD 0.9 billion and the power generated will be supplied to AMNS India, ArcelorMittal’s 60/40 Indian steelmaking joint venture with Nippon Steel, the company said in a statement.
The three projects include a 36 MW solar project in Amaravati, Maharashtra, a 400 MW solar plus 500 MWh battery energy storage project in Bikaner, Rajasthan and a 250 MW wind plus 300 MW solar project integrated with 300 MWh BESS in Bachau, Gujarat.
While the project in Maharashtra is scheduled to be completed in H1 2027, the projects in Rajasthan and Gujarat are scheduled to be commissioned in H1 2028, the company stated.
Upon completion, the projects will double ArcelorMittal’s renewable energy capacity in India to 2 GW and increase the company’s total global renewable energy capacity to 3.3 GW, it said.
Commenting on the development, Aditya Mittal, CEO, ArcelorMittal, said, “With these new projects, we are doubling our renewable energy capacity in India, providing a secure supply of clean energy to our Indian steelmaking operations and strengthening our global footprint in clean power. Our approach is to invest in projects that are sustainable, economically sound, and aligned with our ambition to make a meaningful contribution to the energy transition. These investments show how climate responsibility and business performance can go hand in hand.”
In addition to ArcelorMittal’s three new projects, AMNS India is also developing its own renewable energy project, which mirrors ArcelorMittal’s Bachau project in terms of location (Bachau, Gujarat), scope (550 MW project, consisting of 300 MW of solar power and 250 MW of wind power), and annual CO2 savings (0.9 million tonnes).
Alongside ArcelorMittal’s initial 1 GW Indian renewables project, which started providing clean energy to AMNS India earlier this year, when all projects complete, they will deliver total annual CO2 savings of 4 million tonnes, and provide 35 percent of electricity requirements for AMNS India’s Hazira steelmaking operations, based on forecast energy consumption in 2028, post AMNS India’s ongoing expansion to 15 million tonnes of annual steelmaking capacity.
The company is also developing renewable energy projects in Brazil and Argentina in joint venture partnerships. Combined, its Indian, Brazilian, and Argentinian projects will provide a total of 3.3 GW of electrical power generation when all projects are operational, it said.
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