Steel giant signs 465MW PV contract

ArcelorMittal Brazil has announced that it has signed contracts to develop two solar projects with a total capacity of 465 megawatts (MW). The projects are in line with the company's goal to reduce carbon emissions from future electricity demand. The first contract is with Casa dos Ventos, Brazil's leading renewable energy project developer and producer, to build a 200MW power plant in the northeastern state of Bahia. ArcelorMittal will own a 55% stake in the joint venture, with the remainder held by Casa dos Ventos. The plant is expected to be operational by the end of next year. Last year, ArcelorMittal signed an agreement with Casa dos Ventos to develop a wind project. The second contract is with Atlas Renewable Energy, the second largest independent renewable energy developer in Latin America. The agreement will develop a 265 MW solar project in the eastern Brazilian state of Minas Gerais, initially in a 50:50 joint venture, with ArcelorMittal acquiring 100% of the shares in the solar park. The project is expected to be put into operation by the end of 2025. Both projects are subject to approval by Brazil's antitrust authorities.