As part of our efforts to accelerate our decarbonisation progress, in March 2022 we announced a partnership with Greenko, India's leading energy transition company, to construct 975 MW of solar and wind power capacity in Andhra Pradesh, India. Combining the project with Greenko's hydro pump storage project will enable us to overcome the intermittent nature of solar and wind power and provide 250 MW of uninterrupted, 'round the clock' renewable energy to AM/NS India, our Indian steelmaking joint venture with Nippon Steel.

The $0.6 billion project, called Project Trinity, will enable a reduction of 1.5 million tonnes of carbon emissions per annum at AM/NS India's primary steelmaking facilities in Hazira, Gujarat. 

It is an attractive opportunity for both ArcelorMittal and AM/NS India. This partnership will enable AM/NS India to meet 20% of its electricity needs from renewable sources, reducing both its electricity costs and carbon emissions, as well as providing consistent and guaranteed returns for ArcelorMittal.

The state of Andhra Pradesh in India, where the project is located, has significant potential for power generation through such projects. This project is in line with Andhra Pradesh government’s Renewable Energy Export Policy 2020 for solar, wind and hybrid projects, which aims to promote the export of renewable energy outside the state – the energy generated from the ArcelorMittal project in Andhra Pradesh will be transmitted to the AM/NS manufacturing facility in Hazira, Gujarat. It is expected the project will be completed by 2024.

“This is an attractive opportunity for ArcelorMittal. We will be partnering with a highly experienced energy transition company in a project that will enable our joint venture company AM/NS India to reduce both its electricity costs and carbon emissions, as well as providing consistent, guaranteed returns for ArcelorMittal. Large amounts of green energy are one of the key foundations for both a net zero economy and a decarbonised steel industry. We are excited about the potential of replicating this model in other regions. It demonstrates how establishing partnerships and collaborating across the supply chain can help us to progress faster towards our decarbonisation targets.” Aditya Mittal, CEO ArcelorMittal.