<p>ArcelorMittal’s Argentinian steelmaker Acindar has signed an agreement with Petroquimica Comodoro Rivadavia to invest USD 140 million in a renewable energy project. Acindar acquired 49% stake of a local energy company to develop the project in partnership with Petroquimica Comodoro Rivadavia. The two companies said the project should have a 76.5-Megawatt capacity and will be located inside the San Luis Norte wind farm. The project will feature 17 of Vestas’s V150 4.5MW turbines, installed on 90-metre towers. It will increase capacity by 76.5MW and is expected to come on-stream during the second half of 2023. In addition, the companies will install a 10MW solar park</p><p>The project will allow Acindar to supply part of the energy needs of its steel business. Acindar expects to invest USD 200 million in Argentina by 2025 to expand steel output capacity, as it eyes steel exports. Acindar CEO Everton Negresiolo said “Adding renewable energies to our plant’s energy supplies not only brings a benefit to the company, but also to the economy as a whole, since electrical capacity is released for other purposes and the demand for foreign currency is reduced.”</p>
<p>ArcelorMittal’s Argentinian steelmaker Acindar has signed an agreement with Petroquimica Comodoro Rivadavia to invest USD 140 million in a renewable energy project. Acindar acquired 49% stake of a local energy company to develop the project in partnership with Petroquimica Comodoro Rivadavia. The two companies said the project should have a 76.5-Megawatt capacity and will be located inside the San Luis Norte wind farm. The project will feature 17 of Vestas’s V150 4.5MW turbines, installed on 90-metre towers. It will increase capacity by 76.5MW and is expected to come on-stream during the second half of 2023. In addition, the companies will install a 10MW solar park</p><p>The project will allow Acindar to supply part of the energy needs of its steel business. Acindar expects to invest USD 200 million in Argentina by 2025 to expand steel output capacity, as it eyes steel exports. Acindar CEO Everton Negresiolo said “Adding renewable energies to our plant’s energy supplies not only brings a benefit to the company, but also to the economy as a whole, since electrical capacity is released for other purposes and the demand for foreign currency is reduced.”</p>
