Prashant Ruia, Director, Essar Capital, said, “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.
| Photo Credit: KAMAL NARANG
Essar Group set up 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 developing a range of low-carbon energy transition projects over the next five years, of which $2.4 billion will be invested across its site at Stanlow, between Liverpool and Manchester and $1.2 billion in India, the group said in a statement.
In India, the group plans to develop a cost-efficient global supply hub for low-carbon fuels, including green hydrogen and green ammonia.
Ammonia will be shipped from India to the U.K., Europe and globally to meet expanding market demand for green hydrogen, it said.
“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, said, “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.
