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ArcelorMittal and Casa dos Ventos will construct a wind power project in Brazil

ArcelorMittal aims to secure a significant portion of Brazil's future electricity needs and decarbonize it with a wind power project.

ArcelorMittal and Casa dos Ventos will construct a wind power project in Brazil

ArcelorMittal announced that it will establish a renewable joint venture with Casa dos Ventos to develop a 554 MW power plant. The transaction was approved by Brazil's antitrust agency CADE on April 13 and is expected to be completed within the next 15 days.

ArcelorMittal will have a 55% stake in the venture, while Casa dos Ventos will have the remaining 45% stake. It was also stated that ArcelorMittal will make a total equity investment of $0.15 billion.

The project will be worth $800 million.

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