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Essar to invest Rs 30,000 cr in green hydrogen plant in Gujarat

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The Essar Group is set to invest Rs 30,000 crore in a green hydrogen plant in Gujarat, as it aims to become a leader in clean energy. The conglomerate is also looking to decarbonize its UK oil refinery and develop a green steel plant in Saudi Arabia. Additionally, Essar plans to enter the mining of critical minerals for use in electric vehicle batteries and renewable energy. The company aims to generate 1 gigawatt of hydrogen capacity and 1 million tonnes of green molecules per year over the next four years. The investment will be used for producing green molecules for export rather than green ammonia. Essar is also expanding its coal-based electricity generation and building a renewable energy platform. Furthermore, the group is working on a liquefied natural gas (LNG) and electric ecosystem for heavy trucks to contribute to a cleaner transportation sector. It currently has a fleet of LNG-powered and electric trucks.

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