The Ruias-promoted Essar group on Monday launched a low carbon investment arm, Essar Energy Transition (EET), with plans to invest $3.6 billion in a range of energy transition projects in India and the UK.
The company will invest $1.2 billion in India and $2.4 billion in the UK on the proposed transition projects over the next five years, the Mumbai-based group said in a statement.
The investment in India will be focused on developing a cost-efficient global supply hub for low carbon fuels in India. These will include green hydrogen and green ammonia for export to meet expanding global demand for green hydrogen.
The India investment plan is driven by the Narendra Modi government’s “supportive regulatory framework designed to help position the country as a leading global hub of green hydrogen production and exports”, the company said.
Read more at:- http://bit.ly/3YXZgNz