India small steelmakers renewable power savings report

A report titled 'Powering India's Secondary Steel Transition' released Wednesday by a consortium including the Confederation of Indian Textile Industry, WWF-India, Climate Catalyst, and HFS Research found that smaller steel companies, responsible for nearly 40% of India's crude steel production, could cut electricity bills by up to 34% and sharply reduce carbon emissions by switching to renewable energy. The report recommends a cluster-based approach where small producers jointly invest in and own renewable projects to lower upfront costs and improve viability. It notes that only about 11% of smaller steelmakers currently use renewable power, compared to 22% of India's overall electricity mix. Steelmakers in India — Gujarat and India — Chhattisgarh cite high capital costs, regulatory hurdles, and inadequate grid infrastructure as barriers. The report also highlights that shifting to clean power could help shield Indian steel companies from European carbon taxes and support India's net-zero by 2070 goal.