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  • Essar to Set Up 1GW Green Hydrogen Project

    Essar to Set Up 1GW Green Hydrogen Project

    In December 2023, Essar signed an MoU with the Gujarat government to develop the project, involving an estimated investment of Rs 30,000 crore…reports Asian Lite News

    Essar Group is setting up a 1-gigawatt green hydrogen project (1,000 megawatt) in Gujarat’s Jamnagar, besides expanding its ports and power businesses in the western state, said Prashant Ruia, Promoter Director, Essar Group.

    Speaking to ANI on the sidelines of the Vibrant Gujarat Global Summit, Ruia said, “We are focusing on three to four areas in India. In Gujarat, we are setting up a 1,000 MW green hydrogen project in Jamnagar. Also, we want to expand our existing power and port projects.”

    In December 2023, Essar signed an MoU with the Gujarat government to develop the project, involving an estimated investment of Rs 30,000 crore.

    The Union Cabinet in early January 2023 approved the National Green Hydrogen Mission, aiming to make India a global hub for such technologies’ production, utilisation, and export.

    India meets a sizable portion of its energy needs through imports, and this green hydrogen mission is seen as an avenue to reduce the dependence on imported fuel. The initial financial outlay for the mission is pegged at Rs 19,744 crore, which includes research and development activities.

    Under this mission, the government aims to raise annual green hydrogen production to 5 million metric tonnes, add renewable energy capacity of about 125 gigawatts, attract over Rs 8 lakh crore in investments, lakhs of jobs, and most importantly, over Rs 1 lakh crore in cumulative reductions of fossil fuel imports.

    “I have no doubt about that and within India, obviously Gujarat is playing a very, very important role and as far as Essar is concerned, majority of our investments have always been in Gujarat,” Ruia of Essar Group said.

    The Essar Group representative Prashant Ruia informed that the company has so far invested more than Rs 150,000 crore in Gujarat. “Obviously, it’s been an excellent destination for all kinds of investments.”

    Speaking about the group’s participation in Vibrant Gujarat, he said, “Our involvement has been with Vibrant Gujarat since 2002 and we have seen what kind of progression work and one of the important things about Vibrant Gujarat is that whatever commitments and investment commitments have been made over the years, those investments have actually come on ground”

    “Basically, India is now really one of the most important investment destinations in the world,” he asserted. (ANI)

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  • Essar’s JV to set up Britain’s largest hydrogen hub

    Essar’s JV to set up Britain’s largest hydrogen hub

    “The UK’s first low carbon hydrogen facility at Essar Stanlow will sit at the heart of the ‘HyNet’ low carbon cluster, to produce a total of 1GW per year of hydrogen, across two units, from 2026.”…reports Asian Lite News

    Conglomerate Essar and Progressive Energy have formed a new new joint venture, Vertex Hydrogen, to build the UK’s largest hydrogen hub at the Stanlow Manufacturing Complex.

    Led by Essar as the majority shareholder, Vertex Hydrogen has been formed to provide the catalyst for development of a hydrogen economy across northwest England and north Wales.

    “A total investment of approximately 1 billion pounds will be committed to deliver the hydrogen production hub,” Essar said in a statement.

    Besides, the company said that the initiative is a core part of a wider strategy by Essar globally to focus on investing in energy transition through the transformation of existing portfolio companies, and investments in new ventures.

    “The UK’s first low carbon hydrogen facility at Essar Stanlow will sit at the heart of the ‘HyNet’ low carbon cluster, to produce a total of 1GW per year of hydrogen, across two units, from 2026.”

    “This is equivalent to the domestic heating energy used by a major British city region, such as Liverpool.”

    As per the statement, waste fuel gases from Essar Stanlow, and natural gas, will be converted by Vertex Hydrogen into hydrogen, with carbon dioxide safely captured and stored by ‘HyNet’ partner ‘Eni SpA’, underground offshore in Liverpool Bay.

    “The hydrogen production hub will provide low carbon energy to replace fossil fuels in industry across the ‘HyNet’ region, as well as heating homes, and fuelling buses, trains and trucks.

    “The hydrogen produced will, in the first instance, be utilised by Essar to reduce its carbon footprint at the Stanlow Manufacturing Complex.”

    In addition, Vertex will provide low carbon hydrogen to a wide range of businesses, including companies from the chemicals, ceramics, paper, glass and flexible power generation sectors, such as Tata Chemicals Europe, Encirc, InterGen, Solvay, Ingevity, Novelis, Glass Futures and Saica Paper “all having expressed interest already”.

    Essar Chairman Prashant Ruia said: “Essar is massively committed to investing in energy transition and is building a portfolio of companies in this space. Vertex Hydrogen is a central component of that vision, which will be instrumental in helping create a hydrogen future for northwest England and northeast Wales.”

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