Steel manufacturer Arcelor Mittal's Brazil division will work with Casa dos Ventos, a national renewable energy developer, to build the Babilonia wind project.
ArcelorMittal Brazil will hold a 55% stake in the JV and Casa dos Ventos the remainder.
The project, which has received approval from the Brazilian antitrust authority, will generate 554MW of wind power, the company said.
Last month, the steel company completed the acquisition of Companhia Siderúrgica do Pecém (CSP), a slab production operation also in northeast Brazil.
"As we expand our presence and add value to our Brazilian franchise, we are conscious of the responsibility we have to decarbonise our operations," said Aditya Mittal, chief executive.
He continued: "By collaborating with a respected energy transition operator in Casa dos Ventos, we can take advantage of the favourable Brazilian climate for renewable energy generation and make faster progress towards our climate targets."
The US$800 million project is expected to provide 38% of the total electricity needed for Arcelor Metal's Brazil operations once complete.
Babilonia is presently in the environmental and regulatory permitting stage, with anticipated construction slated for later this year. Upon completion, ArcelorMittal Brazil will enter a 20-year power purchase agreement with the JV for electricity supply.
Elsewhere, Arcelor Mittal has entered a collaborative deal with Danish window manufacturer VELUX Group to provide low carbon steel.
VELUX will use ArcelorMittal's XCarb flat steel, which is produced using a minimum of 75% scrap steel and 100% renewable electricity, the statement read.
"This spring, we are ordering the first delivery of low-carbon emissions steel from ArcelorMittal," said Jesús Villalba, a senior director at VELUX Group. "We are very excited about the journey that ArcelorMittal has started to move from emissions-intensive energy for steel production towards lower carbon steelmaking."
VELUX Group plans to conduct large-volume hinge and bracket testing of XCarb at its factory in Gniezno, Poland.