Essar Group has signed a Memorandum of Understanding (MOU) with the Government of Gujarat to develop a 1 GW green hydrogen project in Gujarat. This project will involve an estimated investment of INR 30,000 crore.
In February the Essar Group had formed Essar Energy Transition (EET) with a focus on hydrogen, decarbonization, new energy infrastructure, and biofuels. EET plans to invest a total of $3.6 billion in developing a range of low-carbon energy transition projects over the next five years, of which $2.4 billion will be invested across its site at Stanlow in the UK and $1.2 billion in India.
In India, EET will invest $1.2 billion in developing a cost-efficient global supply hub for low-carbon fuels, including green hydrogen and green ammonia. Ammonia will be shipped from India to the UK, Europe, and globally to meet the expanding market demand for green hydrogen, stated Essar.
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