ArcelorMittal (MT) eyes green steel with $600m clean energy push

Global steelmaker ArcelorMittal declares RE push for India – Photo: Shutterstock ArcelorMittal’s (MTus) decision to invest in clean energy in India, to partly power a steel factory in the South Asian nation, will help the company build assets and eventually the transition to alternative energy-driven manufacturing, according to analysts.The world’s largest steelmaker has announced a $600m (EUR545.4m / GBP454m) investment into a solar- and wind-power project that will transmit electricity to its joint venture in India – ArcelorMittal Nippon Steel India (AM/NS India).Indian regulations have a mandate that high-power consuming industries get 10% of their electricity from sustainable sources, as Pune-based consultancy WiSH Energy’s chief operating officer Amol Shende told Capital.com.With the above-mentioned project, renewables will meet over 20% of the Hazira steel…

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