ArcelorMittal, PCR announce new investments in renewables in Argentina
Wind park in Argentina. Source: Argentina.gob.ar
Argentine long steel producer ArcelorMittal Acindar, part of steel making multinational ArcelorMittal SA (AMS:MT), has agreed to make additional investments in wind power in San Luis Province, central Argentina, and build a new solar farm.
The steel giant said on Wednesday that it will join forces with Argentine energy and cement company PCR to boost their investment in the San Luis Norte wind farm project by USD 70 million (EUR 71.1m) to add to new turbines to the ones already planned.
The first phase of San Luis Norte, which ArcelorMittal Acindar says in now under way, will have 76.5 MW across 17 Vestas wind turbines. The expansion that was just announced will bring eight Vestas turbine totalling 36 MW.
Additionally, a solar power project of 18 MW is planned for the same area.
For PCR and ArcelorMittal Acindar, the total investment in the entire effort will reach USD 210 million, according to the press release. All three projects will add a combined 112.5 MW, enabling the steel producer to cover over 30% of its power demand with renewables in the second half of 2023.
ArcelorMittal Acindar reminded that its production facility in La Tablada, Buenos Aires province, already runs 100% on renewable energy. This was enabled by an agreement between ArcelorMittal Acindar and PCR, which is supplying the power from the Bicentenario II wind farm.
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