Profit margins at many of India’s smaller steel companies have been affected by rising fuel costs resulting from the Iran war . “A cluster-based approach can fundamentally change how small steelmakers access renewable energy,” Prabhakar said. Renewable energy adoption remains limited among India’s smaller and medium-sized steel companies despite the country’s clean power capacity tripling over the past decade. The report estimated only about 11% of smaller steelmakers use renewable power, compared with roughly 22% of India’s overall electricity mix. But high costs, government regulations and, in some regions, a lack of awareness about the benefits of renewable electricity are slowing the transition.