Steel giant ArcelorMittal plans 500-600MW solar plant instead of steel mill in Karnataka

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
ArcelorMittal wants to use the land pegged for a steel mill for solar instead. Credit: Yogendra

Steel giant ArcelorMittal plans to build a 500-600MW solar plant in the Indian state of Karnataka after it backed out from plans to build a six million tonnes per annum steel mill.

An ArcelorMittal spokeswoman told PV Tech: “In view of current market conditions in the global steel industry and uncertainty in raw material availability, ArcelorMittal would like to utilise the acquired land in Karnataka for a meaningful purpose of generating the green solar energy to contribute to mitigate Karnataka's power crisis and to participate in National Solar Energy Mission.”

The firm has sought permission from the government to set up the plant on th same 1,010 hectares of land that was orginally acquired for the steel mill.

Just last week, Indian conglomerate RattanIndia Power said it planned to use a 324 hectare site in Punjab, which was originally pegged for a thermal power plant, to build a 200MW solar PV project. This was partly down to issues with the signing of a power purchase agreement due to a lack of assurance of domestically-sourced coal supply to feed the plant.

Read Next

October 13, 2021
Reliance New Energy Solar (RNES) has invested US$29 million in German wafer technology company NexWafe’s Series C financing round as it looks to establish wafer production facilities in India.
October 11, 2021
A subsidiary of Indian conglomerate Reliance Industries has acquired solar module manufacturer REC Group and a 40% stake in EPC and O&M solutions provider Sterling and Wilson.
October 6, 2021
Indian solar manufacturer Emmvee has signed a memorandum of understanding with the government of Karnataka to set up a 3GW cell and module production plant in the state.
September 28, 2021
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.
September 27, 2021
A new support scheme from India’s government to boost the domestic manufacture of PV modules has seen 18 bidders submit 54.8GW of applications, according to consultancy JMK Research & Analytics.
September 20, 2021
A subsidiary of Indian utility Tata Power has received a letter of intent to set up a 250MW grid-connected solar project in the state of Maharashtra.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 19, 2021
Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021