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ArcelorMittal and Casa dos Ventos Formed a New Partnership Aimed at Building a 553.5 MW Wind Power Plant in Bahia.
ArcelorMittal Brazil, a leading steel company in Brazil, announced this week a partnership with Casa dos Ventos, one of the largest producers and developers of clean energy projects in the country, thus forming a new joint venture. The partnership aims to construct a new 553.5 MW wind energy project in Bahia, where ArcelorMittal Brazil will have a 55% stake in the JV and Casa dos Ventos the remaining 45%.
Wind Power Project in Bahia Will Receive Investments of R$ 4.2 Billion
The transaction was approved on April 12 by the Administrative Council for Economic Defense (CADE) and will be finalized in the next 15 days. The ArcelorMittal and Casa dos Ventos project, which amounts to approximately R$ 4.2 billion, aims to secure and decarbonize a significant portion of the company’s future electricity demands in the country. The expectation is that it will meet 38% of the steel producer’s total energy demand in Brazil over the next decade.
According to ArcelorMittal’s CEO, Aditya Mittal, in addition to contributing to its climate agenda, this project also addresses the operational and financial aspects of the company. It reduces energy costs, provides energy security for its operations in the country, and will yield greater returns in the long run.
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The recent acquisition of CSP immediately expanded its presence in the rapidly growing national market and brought promising future options. As the company expands its presence and adds value in the country, it is aware of the responsibility it has to decarbonize its activities.
By partnering with a respected operator in the energy transition, Casa dos Ventos has competitive advantages such as the country’s climate, which is favorable for clean energy generation that will allow ArcelorMittal to progress more swiftly towards its climate goals.
Babilônia Wind Power Complex
According to the President of ArcelorMittal Brazil and CEO of Long Steel and Mining LATAM, Jefferson De Paula, besides the recent acquisition of CSP, the company currently has several downstream organic growth projects underway that expand its presence and enhance its ability to generate higher value-added products.
These expansion plans will lead to an increase in its energy demands. This project in partnership with Casa dos Ventos prepares ArcelorMittal for the future, ensuring that we can responsibly meet its long-term energy needs.
The Babilônia Wind Power Complex will be installed in Bahia, Northeast Brazil. The location was chosen due to factors such as high capacity load factors and the short distance to connect to the national interconnected system (SIN). There is also potential to increase the project’s capacity by adding another 100 MW of clean energy.
ArcelorMittal Closes Other Wind and Solar Energy Partnerships
Currently, the wind power project with Casa dos Ventos is in the environmental and regulatory licensing phase, with construction expected to begin later this year and operational commissioning in 2025. The company will sign a 20-year power purchase agreement with the JV for energy supply.
The Babilônia project in Bahia is the third strategic clean energy partnership established by the steel company in the last year. In March last year, the company announced a partnership with the Greenko group in India to develop a continuous energy project with 975 MW of wind and solar capacity.
The project will supply ArcelorMittal’s Indian joint venture in the steel sector, AM/NS India, providing over 20% of its energy demands and mitigating carbon emissions by about 1.5 million tons.
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