2023-03-01 11:05:00
INDIA'S HYDROGEN INVESTMENT $3.6 BLN
ENERDATA - 28 Feb 2023 - The Indian conglomerate Essar has announced that it will invest US$3.6bn in the United Kingdom and in India over the next five years through a new entity, named Essar Energy Transition (EET), with the goal to drive decarbonisation. EET plans to invest US$2.4bn in the UK in its site at Stanlow, located between Liverpool and Manchester (North West England), and US$1.2bn in India. EET expects that those investments will allow an emissions reduction of 3.5 MtCO2, or about 20% of the total industrial emissions in North West England.
EET will include several entities of Essar, notably Essar Oil UK, the company’s refining and marketing business in England, Vertex Hydrogen, which is developing 1 GW of blue hydrogen capacity for the UK market (and targets 3.8 GW), as well as EET Future Energy, which is developing 1 GW of green ammonia in India, for the UK and international markets. EET will also incorporate Stanlow Terminals Limited, which is developing storage and pipeline infrastructure, and EET Biofuels, which is currently developing 1 Mt of low carbon biofuels.
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Earlier:
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
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2022, December, 7, 11:30:00
INDIA'S GAS TRADE UP BY 179%
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2022, November, 18, 11:00:00
INDIA'S ENERGY, CLIMATE STRATEGY
Under this strategy, India plans to expand its green hydrogen production, increase electrolyser manufacturing capacity, and increase its nuclear capacity three-fold by 2032 (6.8 GW at the end of 2021).
2022, November, 16, 10:45:00
INDIA'S NUCLEAR STRATEGY
The strategy articulates India's vision and action plan for achieving its goals set out in its Nationally Determined Contribution (NDC) which was updated earlier this year to commit India to reduce the emissions intensity of its GDP by 45% from 2005 levels, and to achieve "about 50%" of its cumulative installed electric capacity from non-fossil fuel-based energy resources, by 2030.
