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Essar to invest ₹30,000 cr in green hydrogen plant in Gujarat

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In Short:

Essar Group will invest ₹30,000 crore in a green hydrogen plant in Gujarat. They plan to decarbonize their oil refinery in the UK, build a green steel plant in Saudi Arabia, and create an LNG and electric ecosystem for long-haul trucks. Essar Future Energy aims to develop hydrogen capacity and green molecules in Jamnagar. The company is also focusing on expanding their electricity generation capacity and promoting green mobility solutions.

Essar Group’s Ambitious Plans for Clean Energy Revolution

Imagine a future where trucks run on clean energy, refineries are decarbonised, and green steel plants thrive. Well, Essar Group is turning this vision into reality with a whopping investment of ₹30,000 crore over the next four years.

Green Hydrogen Plant in Jamnagar

Essar Group is gearing up to establish a green hydrogen plant in Jamnagar, Gujarat, as part of its commitment to clean energy. This move is set to revolutionize the conglomerate’s operations, with a focus on sustainability and growth.

Not stopping there, they also plan to decarbonise their oil refinery in the UK, construct a green steel plant in Saudi Arabia, and develop an LNG and electric ecosystem for long-haul heavy trucks.

Essar Future Energy’s Big Plans

Essar Future Energy is set to develop a massive 1 gigawatt of hydrogen capacity along with green molecules capacity of 1 million tonnes per annum in Jamnagar. All of this will be achieved over the next four years, marking a significant shift towards a cleaner future.

The company’s strategy involves utilizing renewable energy from Essar Renewables to split water molecules for hydrogen production. This green hydrogen will then be used to create green ammonia for easy transportation.

“The idea is to create green molecules that can be transported directly rather than green ammonia,” said Prashant Ruia, Director of Essar Capital.

Capacity Expansion for Sustainability

The conglomerate is not just stopping at clean energy but also expanding its capacity to generate electricity from coal. With a target to reach 10,000 MW in the next 3-5 years, Essar Group is setting the bar high for sustainable power generation.

Additionally, Essar is focused on building an LNG and electric ecosystem for trucks, contributing to a cleaner transportation sector. Their fleet of LNG-powered trucks is already making a positive impact on reducing CO2 emissions.

Investing in a Greener Future

With plans to decarbonise refineries and set up green steel plants, Essar Group is investing billions to make a significant impact on the environment. Their dedication to clean energy and sustainability is paving the way for a brighter, greener future.

Stay tuned as Essar Group continues to lead the charge towards a cleaner and more sustainable world.

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