The Essar Group has announced the formation of Essar Energy Transition (ETT) to drive energy transition.
EET plans to invest USD3.6 billionin developing a range of low-carbon energy transition projects over the next five years, of which USD2.4 billion will be invested across its site at Stanlow (in the UK), between Liverpool and Manchester, and USD1.2 billion in India. EET will invest in developing a cost-efficient global supply hub for low carbon fuels in India, including green hydrogen and green ammonia. Ammonia will be shipped from India to the UK, Europe and globally to meet expanding market demand for green hydrogen. EET’s investment in India will also help deliver on the country’s emerging hydrogen ambition.