Essar Group's Green Hydrogen Ambitions: Investing Rs 30,000 Crore for Clean Energy Growth
Key Ideas
- Essar Group plans to invest Rs 30,000 crore in a green hydrogen plant in Jamnagar, Gujarat, aiming for clean energy growth.
- The conglomerate will focus on decarbonizing its operations, including building a green steel plant in Saudi Arabia and promoting green mobility solutions.
- Essar Future Energy plans to develop 1 gigawatt of hydrogen capacity in Jamnagar over the next four years, utilizing renewable energy to produce hydrogen for various applications.
- Essar is also exploring opportunities in mining critical minerals for electric vehicle batteries and is looking into shale gas exploration in India.
Essar Group is set to invest Rs 30,000 crore over the next four years in establishing a green hydrogen plant in Jamnagar, Gujarat. This initiative is part of the conglomerate's strategic focus on clean energy as a key driver of growth. By utilizing 4.5 GW of renewable energy from Essar Renewables, Essar plans to produce hydrogen and oxygen through water electrolysis. The produced hydrogen can be used for powering vehicles, electricity generation, industrial processes, and domestic heating. To facilitate transportation, Essar aims to convert hydrogen into green ammonia for easier shipment. The conglomerate also envisions developing 1 gigawatt of hydrogen capacity along with associated green molecules capacity of 1 million tonnes per annum. In addition to green hydrogen, Essar is venturing into mining critical minerals for electric vehicle batteries and exploring shale gas opportunities in India. The group's decarbonization efforts extend to projects like expanding renewable energy platforms, building LNG and electric infrastructure for long-haul trucks, and enhancing coal-based electricity generation. Essar's focus on green mobility solutions includes operating a fleet of LNG-powered trucks to reduce carbon emissions and contribute to a cleaner transportation sector. The conglomerate also plans to decarbonize its UK refinery and establish a green steel plant in Saudi Arabia, with a significant investment in these projects. Overall, Essar Group's commitment to sustainable practices and green technologies is aimed at fostering a greener future while driving growth and innovation in the energy sector.
Topics
Middle East
Renewable Energy
Clean Energy
Infrastructure
Investment
Electric Vehicles
Decarbonization
Steel Production
Coal Bed Methane
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