Essar Launches Essar Energy Transition, with a $3.6 billion investment plan
Will invest $2.4 billion in the UK & $1.2 billion in India to develop a range of low carbon energy transition projects over the next five years in India and the UK.
Investments across a range of hydrogen production technologies, decarbonisation, biofuels (road and aviation), and infrastructure projects
The EET will include Essar Oil UK, the company’s refining and marketing business in North West England; Vertex Hydrogen, which is developing 1 gigawatt (GW) of blue hydrogen for the UK market, with follow-on capacity set to reach 3.8GW; EET Future Energy, which is developing 1 GW of green ammonia in India, targeted at UK and international markets; Stanlow Terminals Ltd, which is developing enabling storage and pipeline infrastructure; and EET Biofuels, which is investing in developing 1 MT of low carbon biofuels.
That’s an interesting portfolio of decarbonization pathways.
Good luck to them!
Source: LiveMint – https://lnkd.in/gHK7Du-v
See my LinkedIn post on this topic
