Essar Group is to invest $3.6bn developing low-carbon energy in the UK and India under the newly formed Essar Energy Transition (EET).
The majority of the investment – across a range of hydrogen production technologies, decarbonisation, biofuels and infrastructure projects – will be at its Stanlow site ($2.4bn), with the balance in India.
EET believes that these investments will support the reduction of around 3.5m tonnes of carbon dioxide (CO2), around 20% of the total industrial emissions in North West England.
Other sustainability investments planned by the Essar Group beyond EET include the creation of an LNG value chain in India, including LNG truck manufacturing and LNG fuel stations, setting up a pellet plant in Odisha, in eastern India and a 4Mtpa green steel complex at Ras-Al-Khair, Saudi Arabia.
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