Indian metal companies race to secure renewable energy amid EU carbon regulations

Indian steel and metal companies are rushing to secure renewable energy deals to cut carbon emissions and avoid penalties under the EU’s upcoming Carbon Border Adjustment Mechanism (CBAM). This demand extends beyond large steel and aluminium companies to their suppliers, aiming to reduce emissions across their supply chains. Renewable energy providers report that demand outstrips current capacity, with new projects already sold out for the next few years. Avaada chairman Vineet Mittal indicated that due…