28 Feb 2023
Multinational conglomerate Essar Energy has announced a major investment in India to support the country's National Green Hydrogen Mission. The $1.2 billion investment will be used to establish a cost-efficient global supply hub for low carbon fuels, including future fuel such as green hydrogen and green ammonia. This move by Essar Energy is in line with the company's commitment to developing a range of low carbon energy transition projects in the UK and India over the next five years.
The National Green Hydrogen Mission aims to make India a global hub for the production, utilization, and export of green hydrogen and its derivatives. Essar Energy's investment will help the country achieve this goal by delivering a reliable supply of low-cost green hydrogen and ammonia, which will be shipped from India to the UK, Europe, and other global markets.
As a multinational conglomerate with a strong presence in both the UK and India, Essar Energy is well-positioned to support the development of the energy transition in both countries. The company's investment in India will create highly skilled employment opportunities and support the government's decarbonisation policy.Â
In addition to its investment in India, Essar Energy is also investing $2.4 billion in its site at Stanlow, between Liverpool and Manchester, to create the UK's leading energy transition hub in North West England. The hub will play a major role in accelerating the country's low carbon transformation, supporting the government's decarbonisation policy, and creating highly skilled employment opportunities at the heart of the Northern Powerhouse economy.
Overall, Essar Energy's investment in India and the UK reflects its commitment to sustainability and to supporting the transition to a low carbon future. As a multinational conglomerate with a strong track record in the energy sector, Essar Energy is well-positioned to play a leading role in the development of future fuel and the National Green Hydrogen Mission.