UK-headquartered ArcelorMittal, a leading steel and mining company, plans to invest in solar energy in the Indian States of Rajasthan and Gujarat.
Lakshmi Niwas Mittal, group chairman of ArcelorMittal, recently met Rajasthan chief minister Ashok Gehlot and expressed his willingness to set up a 4.5 GW solar park at an investment of INR 19,000 crore (US$ 2586 million) in Rajasthan. The plant is planned to be set up by ArcelorMittal arm HPCL-Mittal Energy Limited.
Gehlot also invited ArcelorMittal to invest in the State’s mining sector.
Before this, Mittal also met Gujarat chief minister Vijay Rupani and expressed his intention of investing INR 50,000 crore (US$6809 million) in Gujarat’s solar energy, wind energy, and hydrogen gas production sectors.
With this, the company joins the trend of steelmakers foraying into green hydrogen and increasing the footprint in renewable power generation.
JSW Future Energy Limited, an arm of power producer JSW Energy Limited, recently joined hands with Australia-based Fortescue Future Industries (FFI) to explore green hydrogen development and use in industrial and transport sectors in India.
Under the agreement, FFI and JSW Energy will collaborate and conduct scoping work on potential projects in green hydrogen production. They will also explore opportunities to utilize green hydrogen for steel making, hydrogen mobility, ammonia, and other mutually agreed industrial applications in India.
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