Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Essar launches EET to invest $3.6 billion in energy transition in UK, India

IANS
Updated: February 27th, 2023, 16:50 IST
in Business
0
Essar launches EET to invest $3.6 billion in energy transition in UK, India

Pic- IANS

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

London: Essar Group, invested in Energy, Metals and Mining, Infrastructure and Technology sectors, has announced the formation of Essar Energy Transition (EET) to drive the creation of the UKs leading energy transition hub in North West England.

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, between Liverpool and Manchester and $1.2 billion in India.

Also Read

RBI promotes internationalisation of rupee

1 day ago
RBI

RBI keeps interest rates unchanged amid uncertainty over Trump’s tariffs

1 day ago

The EET will include Essar Oil UK, the company’s refining and marketing business in North West England; Vertex Hydrogen, which is developing 1 gigawatt (GW) of blue hydrogen for the UK market, with follow-on capacity set to reach 3.8GW; EET Future Energy, which is developing 1 GW of green ammonia in India, targeted at UK and international markets; Stanlow Terminals Ltd, which is developing enabling storage and pipeline infrastructure; and EET Biofuels, which is investing in developing 1 MT of low carbon biofuels.

EET’s investment programme will play a major role in accelerating the UK’s low-carbon transformation, supporting the government’s decarbonisation policy and creating highly skilled employment opportunities at the heart of the Northern Powerhouse economy.

The investments, across a range of hydrogen production technologies, decarbonisation, biofuels (road and aviation), and infrastructure projects, will contribute to North West England quickly becoming one of the leading post-carbon industrial clusters in Europe.

EET believes that these investments will support the reduction of around 3.5 million tonnes of carbon dioxide, around 20 per cent of the total industrial emissions in North West England.

The launch of EET heralds Essar’s repositioning for growth and resurgence. Essar is now investing in new forward-looking assets with modern, efficient, and ESG-compliant technologies to last for several decades. Other sustainability investments planned by the

Essar Group beyond EET include the creation of an LNG value chain in India, including LNG truck manufacturing and LNG fuel stations, setting up a pellet plant in Odisha, in eastern India and a 4-million tonnes per annum green steel complex at Ras-Al-Khair, Saudi Arabia.

EET’s strategy is founded on the fact that hydrogen and biofuels are fast becoming globally significant fuels of the future and that the UK is positioned strongly to spearhead the rapid growth of the European low-carbon fuels market.

The UK already benefits from an advanced regulatory and policy framework to support low-carbon energy production, including the UK government’s target of achieving 10GW of hydrogen production by 2030, alongside developing low-carbon hydrogen infrastructure, expertise and significant customer demand.

Such is the scale of the market growth opportunity that EET estimates approximately two-thirds of its aggregate cash flows could come from diversified low-carbon sources before the end of the decade.

As a core part of the HyNet cluster, Essar’s Stanlow site already plays a prominent role in the UK’s energy transition planning framework, following the selection of HyNet by the UK government in 2021 as one of only two hydrogen clusters in the country to potentially be supported through to full operations.

The Stanlow refinery itself will also achieve a 75 per cent reduction in carbon emissions before the end of this decade as part of EET’s decarbonisation plans, making this strategically critical fuel supplier to the UK one of the most sustainable refineries in Europe.

In addition to the $2.4 billion investment in the UK, EET will also invest $1.2 billion in developing a cost-efficient global supply hub for low-carbon fuels in India, including green hydrogen and green ammonia. Ammonia will be shipped from India to the UK, Europe and globally to meet expanding market demand for green hydrogen.

EET’s investment in India will help deliver on the country’s emerging hydrogen ambition. The Indian government’s supportive regulatory framework is designed to help position the country as a leading global hub of green hydrogen production and exports, as set out in its National Green Hydrogen Mission, approved by the Centre on January 4.

Prashant Ruia, Director, Essar Capital, said: “The launch of EET is a major milestone in Essar’s long-standing commitment to put the UK at the forefront of low carbon energy. We are excited about the opportunity to drive the UK’s energy transition by producing low-carbon future fuels which will help eliminate around 20% of the industrial carbon dioxide in Northwest England. In doing so, it will provide a blueprint for how traditional industries globally can be successfully transformed into hubs for the production of future energies.”

Tony Fountain, Managing Partner of Essar Energy Transition, said: “EET’s ambitious investment plans will not only help deliver the UK’s net zero ambitions and the enormous environmental benefits therein but will also secure the long-term sustainable future for Stanlow, protecting and creating new highly skilled job opportunities at the heart of the Northern Powerhouse economy for generations to come.”

IANS

Tags: EETESSARIndiaInvestmentUK
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

Advertisement

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Mrutyunjaya Behera

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Arya Ayushman

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019

Archives

Editorial

French Justice

ormer President Nicolas Sarkozy
October 1, 2025

At a time when many people across the globe holding high offices or having money power and political clout are...

Read moreDetails

U-Turn On Ukraine

Putin
September 30, 2025

During the past fortnight, European states have reported a spurt in incursions into their airspace, the latest such instance being...

Read moreDetails

Angry Ladakh

Ladakh
September 29, 2025

Bordered by China to the east and Pakistan to the west, Ladakh holds immense strategic value for India. Yet, more...

Read moreDetails

Diplomatic Drift

Rights & Restrictions: AAKAR PATEL
September 28, 2025

“God moves in mysterious ways his wonders to perform,” so goes a hymn I read in school. Or perhaps it...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST