Steelmaker ArcelorMittal To Replace Planned Steel Mill With 500-600 MW Solar Power Plant

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

The world’s largest steelmaker, ArcelorMittal, has announced plans to set up a large-scale solar power project in India.

ArcelorMittal has backed out of plans to set up a 6 million tonne steel mill in the southern state of Karnataka. The company will instead set up a 500-600 MW solar power project at the land earmarked for the steel mill.

The decision to set up solar power project instead of a steel mill comes at a time when demand for almost all commodities is falling across the globe. Steel prices have fallen sharply on concerns about low demand from China. It will be more meaningful for the company to use the land to set up a solar power project, and participate in one of the fastest emerging solar power markets in the world.

Recently, an Indian power generation company, RattanIndia Power, announced similar plans to replace a planned coal-fired power plant with a 200 MW solar power project. The company dropped plans for the coal-based power plant after it failed to receive assurance of domestic coal supply.

India offers huge market opportunity for even non-renewable energy companies as it has among the most ambitious installed capacity targets. The Indian government has plans to have 100 GW of solar power capacity by March 2022, up from 5 GW installed capacity at the end of December 2015.

Have a tip for CleanTechnica? Want to advertise? Want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Latest CleanTechnica TV Video

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it!! So, we've decided to completely nix paywalls here at CleanTechnica. But...
Like other media companies, we need reader support! If you support us, please chip in a bit monthly to help our team write, edit, and publish 15 cleantech stories a day!
Thank you!

CleanTechnica uses affiliate links. See our policy here.


An avid follower of latest developments in the Indian renewable energy sector.

Saurabh has 1037 posts and counting. See all posts by Saurabh