Essar earmarks $3.6bn for transition in UK and India
Newly created division will deliver projects including low-carbon hydrogen, biofuels and CCS, with bulk of investments aimed at the UK’s Stanlow refinery, Indian conglomerate says
India’s Essar Group has set out plans to plough $3.6bn into low-carbon hydrogen, biofuels and other decarbonisation projects in the UK and India over the next five years via a newly formed division of the business called Essar Energy Transition (EET). Of the total investment, $2.4bn is aimed at the group’s Stanlow refining complex in northwest England, where the company has already announced an array of major projects. These include two blue hydrogen production facilities developed under a joint venture with clean energy developer Progressive Energy, and a carbon-capture plant that will feed into offshore storage capacity under Liverpool Bay as part of the region’s Hynet low-carbon cluster.