ArcelorMittal expands its portfolio of renewable energy projects

Rhea-AI Summary

ArcelorMittal (NYSE:MT) announced three new renewable projects in India totaling 1GW of solar, wind and battery capacity on 22 December 2025. Upon completion the projects will double ArcelorMittal's India renewables to 2GW and raise global capacity to 3.3GW. Total capital expenditure is forecast at $0.9 billion, with combined annual CO2 savings of 4 million tonnes and an expected supply of 35% of Hazira plant electricity needs by 2028 (post-expansion to 15Mtpa).

Key project milestones: Amaravati 36MW solar (H1 2027); Bikaner 400MW solar + 500MWh BESS (H1 2028); Bachau 250MW wind + 300MW solar + 300MWh storage (H1 2028).

Positive

• India renewables capacity doubled to 2GW
• Global renewables capacity increased to 3.3GW
• Combined annual CO2 savings of 4.0 million tonnes

Negative

• Total capital expenditure of $0.9 billion
• Staged completions extend to H1 2028, delaying full benefits

Key Figures

Global renewables capacity 3.3GW Total renewable energy capacity when all projects operational

New India projects 1GW Nominal solar and wind capacity of three new Indian projects

Project capex $0.9 billion Total capital expenditure for the three Indian projects

India renewables capacity 2GW ArcelorMittal renewable energy capacity in India upon completion

Total CO2 savings 4 million tonnes Annual CO2 savings from ArcelorMittal and AMNS India projects

Hazira power share 35% Share of electricity needs for AMNS India’s Hazira operations in 2028

Hazira capacity 15 million tonnes Forecast annual steelmaking capacity at Hazira after expansion

2024 revenue $62.4 billion Company-wide revenue for 2024

Market Reality Check

$47.20 Last Close

Volume Volume 858,080 is 0.63x the 20-day average of 1,359,504, indicating subdued trading ahead of this announcement. low

Technical Price at 44.65 is trading above the 200-day MA of 34.17, reflecting a pre-news longer-term uptrend.

Peers on Argus

Pre-news, MT was down 0.78% while steel peers were mixed: NUE up 1.69%, STLD down 0.17%, RS down 1.59%, PKX down 0.95%, GGB down 2.14%, suggesting company-specific rather than broad sector dynamics.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 16	Management dealings	Neutral	-0.9%	Disclosure of designated persons’ share transaction notifications under EU rules.
Dec 12	Financial calendar	Neutral	+1.6%	Publication of 2026 earnings dates and AGM schedule with company overview.
Nov 21	Share cancellation	Positive	+0.8%	Cancellation of 77.8m treasury shares, reducing shares in issue to 775m.
Nov 20	Policy commentary	Neutral	-2.2%	Call for urgent adoption of EU tariff quota and reassurance to European customers.
Nov 06	Earnings update	Neutral	+1.2%	3Q 2025 results with EBITDA, net income, and capex guidance details.

Pattern Detected

Recent news items, ranging from capital actions to operational updates, have generally seen price moves that align with the informational tone of each release.

Recent Company History

Over the past few months, ArcelorMittal has reported several corporate updates, including 3Q 2025 results with EBITDA $1.5bn and net income $377m, plus capex guidance of $4.5–$5.0bn. It also cancelled 77,809,772 treasury shares, reducing shares in issue to 775,000,000, and communicated on EU tariff quota matters and its 2026 financial calendar. Against this backdrop of balance-sheet management and operational optimization, today’s expansion of renewable energy capacity in India adds to the ongoing strategic evolution and decarbonization narrative.

Market Pulse Summary

This announcement outlines a significant expansion of ArcelorMittal’s renewable power, adding 1GW in India and lifting global capacity to 3.3GW. The projects are tied to AMNS India, targeting annual CO2 savings of 4 million tonnes and supplying 35% of Hazira’s forecast electricity needs by 2028. In the context of prior balance-sheet actions and steady 2024 revenue of $62.4 billion, investors may focus on execution, capex of $0.9 billion, and future updates on project timelines and performance.

Key Terms

battery energy storage technical

"Bikaner, Rajasthan | 400MW solar + 500MWh battery energy storage | 0.65 | H1 2028"

A system that stores electrical energy in rechargeable batteries so power can be used later, like a large-scale rechargeable power bank for homes, businesses, or the electricity grid. It matters to investors because it helps smooth out supply and demand, lets operators sell power when prices are higher, backs up critical services during outages, and supports more renewable generation — all of which can create new revenue streams and reduce operational risk.

integrated battery storage technical

"250MW wind + 300MW solar + 300MWh integrated battery storage | 0.9 | H1 2028"

A system that combines rechargeable batteries with the equipment and controls needed to store, manage and deliver electricity where it’s produced or used — often paired with solar panels, a building’s electrical system, or the power grid. For investors, it matters because integrated storage can turn intermittent generation into a steady revenue source, reduce energy costs, improve reliability like a backup generator, and qualify for incentives or grid payments that affect long‑term returns.

metric tonnes technical

"produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore"

Metric tonnes are a unit of mass equal to 1,000 kilograms (about 2,205 pounds), roughly the weight of a small car. Investors see this unit used to report volumes of commodities, raw materials and finished goods—so knowing how many metric tonnes are produced, shipped or stored helps assess supply, demand and revenue potential. It provides a common scale for comparing production, inventory and trade across markets and companies.

AI-generated analysis. Not financial advice.

Three new projects in India will bring the Company’s global renewable energy capacity to 3.3GW

22 December 2025, 08:30 CET

ArcelorMittal (‘the Company’) today announces three new renewable energy projects in India totaling 1GW of nominal solar and wind capacity. Upon completion the projects will double ArcelorMittal’s renewable energy capacity in India to 2GW and increase the Company’s total global renewable energy capacity to 3.3GW.

The projects are:

Project location	Capacity	Annual CO2 savings (million tonnes)	Forecast completion
Amaravati, Maharashtra	36MW solar	0.04	H1 2027
Bikaner, Rajasthan	400MW solar + 500MWh battery energy storage	0.65	H1 2028
Bachau, Gujarat	250MW wind + 300MW solar + 300MWh integrated battery storage	0.9	H1 2028

Total capital expenditure for the three projects is anticipated to be $0.9 billion and the power generated will be supplied to AMNS India, ArcelorMittal’s 60/40 Indian steelmaking joint venture with Nippon Steel.

Commenting, ArcelorMittal CEO, Aditya Mittal, said:

“With these new projects, we are doubling our renewable energy capacity in India, providing a secure supply of clean energy to our Indian steelmaking operations and strengthening our global footprint in clean power. Our approach is to invest in projects that are sustainable, economically sound, and aligned with our ambition to make a meaningful contribution to the energy transition. These investments show how climate responsibility and business performance can go hand in hand.”

In addition to ArcelorMittal’s three new projects, AMNS India is also developing its own renewable energy project, which mirrors ArcelorMittal’s Bachau project in terms of location (Bachau, Gujarat), scope (550MW project, consisting of 300MW of solar power and 250MW of wind power) and annual CO₂ savings (0.9 million tonnes).

Alongside ArcelorMittal’s initial 1GW Indian renewables project, which started providing clean energy to AMNS India earlier this year, when all projects complete they will deliver total annual CO₂ savings of 4 million tonnes, and provide 35% of electricity requirements for AMNS India’s Hazira steelmaking operations (based on forecast energy consumption in 2028, post AMNS India’s ongoing expansion to 15 million tonnes of annual steelmaking capacity).

The Company is also developing renewable energy projects in Brazil and Argentina in joint venture partnerships. Combined, its Indian, Brazilian and Argentinian projects will provide a total of 3.3GW of electrical power generation when all projects are operational.

ENDS

About ArcelorMittal 

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and 42.4 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. 

ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).   

http://corporate.arcelormittal.com/  

ArcelorMittal Investor Relations contact information
General	+44 20 7543 1128
Retail	+44 20 3214 2893
Bonds/Credit	+33 171 921 026
E-mail	investor.relations@arcelormittal.com

ArcelorMittal Corporate Communications contact information
Paul Weigh
Tel:	+44 20 3214 2419
E-mail	press@arcelormittal.com

FAQ

What capacity will ArcelorMittal (MT) add in India with the December 23, 2025 projects?

ArcelorMittal will add 1GW of solar, wind and battery capacity across three Indian projects.

How much will ArcelorMittal (MT) spend on the three new Indian renewable projects?

Total capital expenditure is forecast at $0.9 billion for the three projects.

When will ArcelorMittal's new Amaravati, Bikaner and Bachau projects be completed?

Amaravati is forecast for H1 2027; Bikaner and Bachau are forecast for H1 2028.

What CO2 savings will ArcelorMittal (MT) achieve once projects complete?

The projects plus earlier builds are forecast to deliver 4 million tonnes of annual CO2 savings.

How much of AMNS India's Hazira electricity will these projects supply by 2028?

When all projects are operational they are expected to supply about 35% of Hazira's electricity needs in 2028.

Who will receive the power generated by ArcelorMittal's new Indian projects (MT)?

Power will be supplied to AMNS India, ArcelorMittal's 60/40 joint venture with Nippon Steel.