ArcelorMittal has taken a big bet in decarbonising its Indian business by investing in a mix of solar and wind power projects in Andhra Pradesh.
The company will invest $0.6 billion, or Rs 4,500 crore, to build 975 mega watt of nominal solar and wind capacity in partnership with renewable energy producer Greenko.
The solar and wind electricity projects will in turn power Greenko’s hydro pump storage project which will provide 250 mega watt of uninterrupted power to AM/NS India’s Hazira steel plant in Gujarat.
