Essar Group has announced its plans to invest a total of $3.6 billion in energy transition projects in the UK and India.
The investment program will see $2.4 billion go towards the decarbonization of the Stanlow refinery in the UK, which includes ammonia, biofuels, as well as the development of green and blue hydrogen.
And the remaining $1.2 billion of the investment plan are intended for a number of low-carbon energy transition projects in India.
To advance the decarbonization efforts of Northwest England, Essar Group has even launched a separate company called Essar Energy Transition (EET), which is said to include a handful of other entities.
These are Essar Oil UK, Vertex Hydrogen, which is currently working on the development of blue hydrogen for the UK market, green ammonia company EET Future Energy, Stanlow Terminals Ltd., and EET Biofuels.