Company: MT
Filing Date: 2025-03-10
Form Type: 20-F
Source: 0001243429-25-000017
Chunk: 70

Company: ArcelorMittal
Filing Date: 2025-03-10
Form: 20-F
Chunk 70
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. A $0.7 billion investment in the 1 GW renewable energy project launched in 2022 by ArcelorMittal. The project integrates solar and wind power generation, coupled with energy storage solution through a co-located pumped hydro storage plant, which helps to overcome the intermittent nature of wind and solar power generation. The project is owned and funded by ArcelorMittal. AMNS India entered into a 25 year off-take agreement with ArcelorMittal to purchase renewable electricity annually from the project, resulting in over 20% of the electricity requirement at AMNS India’s Hazira plant coming from renewable sources, reducing carbon emissions by approximately 1.5 million tonnes per year. 100% of the solar modules and 96% of the wind turbines have already been installed. The project has begun commissioning in a phased manner and has started supply of renewable power to AMNS India. The Company is studying various options to develop subsequent phases to further increase renewable electricity capacity in India. See "Properties and capital expenditures—Capital expenditures". ArcelorMittal Argentina In Argentina, ArcelorMittal has developed a partnership with PCR for a 130MW solar and wind capacity project, which is already operational and supplies over 30% of ArcelorMittal’s local electricity requirements, and a 180 MW wind project to be completed by 2027 with a total investment of $255 million. ArcelorMittal Brazil In 2024, in addition to the joint venture agreement with Casa dos Ventos signed in 2023 for the development of a 554MW capacity wind power project (see "Properties and capital expenditures— Investments in joint ventures"), ArcelorMittal Brazil signed contracts for the development of two solar energy projects with a combined capacity of 465MW, equivalent to 14% of its current electricity requirements see "Introduction— Sustainable developments highlights". Securing metallics input The main challenge when it comes to raw materials for low carbon emissions steelmaking (high-quality iron ore for DRI production or high-quality scrap, both to be used as input in EAFs) is their availability. The first (high-quality iron ore) represents only about 4% of global iron ore supply and scrap is a scarce resource in many regions. Accordingly, the key actions the Company is taking in this area are focused on securing and diversifying the supply of hi gh-quality raw materials by expanding existing operations and acquiring new businesses. AMMC In 2021, the Company announced that a CAD$205 million investment, supported by