Arcellor Mittal plans solar farm in Karnataka
Arcelor Mittal may set up a solar farm on land alloted to it for the proposed 6 MT Karnataka project in view of excess global steel capacity and delays in securing raw materials.
The company had entered into a pact with Karnataka government for setting up a 6 million tonnes (MT) steel plant with a captive 750 MW power plant at an estimated investment of $6.5 billion. “In view of excess capacity of steel world-wide and uncertainty in iron ore availability locally, the company is also exploring the possibility of utilizing the land in Karnataka for the establishment of a solar farm for generating solar energy,” the global steel giant has said in its latest report.
Setting up of the solar park will contribute to the mitigation of Karnataka’s power crisis and participation in the National Solar Energy mission of the government of India.
“In this regard, the company has sought the state government’s permission to set up a solar farm of up to 600 MW. “The state government is considering ArcelorMittal’s proposal and the company is hopeful of receiving a favorable response to the proposal,” it said.