For the first time, a green steel project based in India is featured in the LeadIT Green Steel Tracker. This is a positive development, since the data also suggests that the pace of green steel announcements has continued to decline since peaking during the 2020–2021 period.
The 25-megawatt green hydrogen project is a cooperation between JSW Energy and LeadIT member JSW Steel. It is located at the steelworks in Vijayanagar, Karnataka, India. Construction is already underway, and this pilot-scale project is scheduled for commissioning before the end of 2025.
India is already the second-largest producer of steel globally, and when it comes to planned new steel plant construction, it has overtaken China based on future capacity. Recently published research by Global Energy Monitor highlights the importance of transitioning India’s steel sector toward green iron and steel to reduce emission intensity and contribute to global emission reductions.
The inclusion of India’s first green steel project in the LeadIT Green Steel Tracker is significant because India's actions have global importance, and this is one strong signal of momentum towards decarbonizing steelmaking in a critical region for climate action. Monitoring such developments is essential to understand the pace and direction of change in global industry.
Eileen Torres Morales, analyst for the LeadIT Green Steel Tracker and SEI Research Associate
New green steel project announcements.
Graphic: Green Steel Tracker, LeadIT 2025.
One full scale hydrogen-based direct reduction plant project from ArcelorMittal in Gijón, Spain has been reclassified from active to prospective, as the company has postponed its investment.
With just two new projects, the data also suggests that the pace of green steel announcements has continued to decline since the 2020–2021 peak. The previous update at the end of 2024 included four new projects – one full-scale, one demonstration and two pilot projects. Green hydrogen-based direct iron ore reduction with electric arc furnace (H-DRI + EAF) remains the most favoured technology globally.
The Green Steel Tracker supports decision-makers in policy, industry, academia and civil society by tracking public announcements of low-carbon investments in the steel industry and presenting them transparently in one place. The tracker includes both active and prospective projects.
The Leadership Group for Industry Transition (LeadIT) was launched by the prime ministers of Sweden and India at the UN Secretary General’s Climate Action Summit in 2019. LeadIT brings together countries and companies committed to achieving net-zero carbon emissions from industry by 2050 and is supported by the World Economic Forum (WEF). The LeadIT Secretariat is hosted by Stockholm Environment Institute (SEI), who manages the work of the Leadership Group.
To learn more, connect with LeadIT on LinkedIn.
Project / The Leadership Group for Industry Transition (LeadIT) aims to enable the transition of heavy industry towards net zero carbon emissions by 2050.
Feature / From 22-29 September 2024, key stakeholders in government, business and civil society gathered at Climate Week NYC to drive action on industry decarbonization.
Feature / Sweden’s largest political forum saw the Leadership Group for Industry Transition strengthened with two new members pledging to decarbonize heavy industry.
Feature / COP28 launches LeadIT 2.0, uniting global leaders for a sustainable, inclusive industrial transition aligned with the Paris Agreement.
