Google- Indian steel and metal companies are rushing to secure renewable energy to reduce carbon emissions ahead of the EU’s Carbon Border Adjustment Mechanism (CBAM).
- High demand for renewable energy, driven by companies in the steel and aluminium sectors, has led to a shortage in capacity, with most projects sold out until 2026.
- Renewable energy providers are struggling to meet demand, particularly for round-the-clock (RTC) green power, with full availability expected only by 2027.
- Indian steelmakers are among the most polluting exporters to Europe, making them highly vulnerable to the new CBAM levies starting in 2026.
Source: LiveMint