ArcelorMittal Brazil, a subsidiary of the steel manufacturing company ArcelorMittal, and the Brazilian renewable energy company Casa Dos Ventos have formed a joint venture to develop the 554 MW Babilonia wind power project in the Bahia region (north-eastern Brazil), worth an estimated US$800m. ArcelorMittal will hold 55% in the venture, while Casa dos Ventos will hold the remaning 45%, with a total equity investment of US$150m from ArcelorMittal.
The Babilonia wind project is currently seeking environmental and regulatory permissions and construction is expected to begin during the course of 2023. Operations are expected to begin in 2025. ArcelorMittal Brazil will then enter a 20-year power purchase agreement (PPA) for the totality of the electricity generated from the wind park. The project is expected to generate enough power to supply 38% of ArcelorMittal Brazil’s total electricity demand by 2030, and could later be expanded by a 100 MW solar project.
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