Prashant Ruia, Director, Essar Capital, mentioned, “The launch of EET isa main milestone in Essar’s long-standing dedication to put the U.Okay. on the forefront of low- carbon power.
| Photo Credit: KAMAL NARANG
Essar Group has arrange Essar Energy Transition (EET) to “drive the creation of the U.K.’s leading energy transition hub” in North West England.
EET plans to invest $3.6 billion in growing a spread of low-carbon power transition initiatives over the following 5 years, of which $2.4 billion might be invested throughout its website at Stanlow, between Liverpool and Manchester and $1.2 billion in India, the group mentioned in an announcement.
In India, the group plans to develop a cost-efficient international provide hub for low-carbon fuels, together with inexperienced hydrogen and inexperienced ammonia.
Ammonia might be shipped from India to the U.Okay., Europe and globally to meet increasing market demand for inexperienced hydrogen, it mentioned.
“EET’s investment in India will help deliver on the country’semerging hydrogen ambition. The Indian government’s supportive regulatory framework is designed to help position the country as a leading global hub of green hydrogen production and exports, as set out in its National GreenHydrogen Mission, approved by the Indian government on 4 January 2023,” it added.
Prashant Ruia, Director, Essar Capital, mentioned, “The launch of EET isa major milestone in Essar’s long-standing commitment to put the U.K. at the forefront of low-carbon energy.
“We are excited about the opportunity to drive the U.K.’s energy transition by producing low -carbon future fuels which will help eliminate around 20% of the industrial carbon dioxide in Northwest England. In doing so, it will provide a blueprint for how traditional industries globally can be successfully transformed into hubs for the production of future energies,” he added.
