ArcelorMittal Brazil to develop two solar energy projects
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Update time : 2024-08-23 18:51:35
ArcelorMittal Brazil signed agreements to develop two solar energy projects totaling 465 MW, which will cover 14% of its current electricity needs. The first project is a joint venture with Casa dos Ventos, one of Brazil's leading renewable energy developers. This 200 MW solar plant will be built alongside a 554 MW wind project, with commissioning expected by late 2025. ArcelorMittal Brazil will hold a 55% stake in the solar project.
The second project, a partnership with Atlas Renewable Energy, involves a 265 MW solar plant in Minas Gerais. This venture will be equally shared initially but will result in ArcelorMittal owning 100% of the plant upon completion, also slated for late 2025.
Both projects are pending approval from Brazil's antitrust authority, CADE. These initiatives align with ArcelorMittal Brazil's goal to decarbonize its energy supply and achieve long-term self-sufficiency in electricity.
