The Brazilian arm of ArcelorMittal, in association with Atlas Renewable Energy, concluded the set-up of the solar energy park Luiz Carlos, located in Paracatu, state of Minas Gerais.
With investments totaling around $170 million, the project led to the construction of a plant that can reach a maximum output of 315 megawatts, while maintaining an average of 74 megawatts annually.
The project was concluded three months ahead of schedule and includes a transmission line 65 kilometers in length, with tension of 500 kV.
Everton Negresiolo, director at ArcelorMittal, stated that all generated energy will be allocated to the company's operations, helping diversify its energy sources, lower production costs, and enhance competitiveness.
Luiz Carlos is part of a $1.0 billion investment plan by ArcelorMittal in renewable energy, including a solar/wind power plant in the state of Bahia, under its strategy to achieve 100 percent renewable energy consumption by 2030.