ArcelorMittal Brazil announced that it has signed contracts towards development of two solar energy projects, having a combined capacity of 465 megawatts (MW). The projects are in line with the company’s goal to decarbonise its future electricity needs.

The first contract with Casa dos Ventos- Brazil’s leading developer and producer of renewable energy projects is towards construction of a 200MW capacity solar power plant in the state of Bahia, north-east Brazil. The joint venture project will be owned 55% by ArcelorMittal, whereas the balance stake will be held by Casa dos Ventos. The commissioning of the plant is expected before the end of next year.

Last year, ArcelorMittal had signed an agreement with Casa dos Ventos for the development of a wind power project.

The second contract is with Atlas Renewable Energy- the second largest independent renewable energy developer in Latin America. The agreement, to develop a 265MW capacity solar energy project in the state of Minas Gerais, east Brazil, will be initially on a 50:50 joint venture basis, with ArcelorMittal acquiring 100% of the solar park. The commissioning is expected by end-2025.

Both the above projects are subject to approval from the Brazilian antitrust agency.