Essar Group announced the formation of Essar Energy Transition (EET) to drive the creation of the UK’s leading energy transition hub in North West England.
EET plans to invest a total of USD 3.6bn in developing a range of low-carbon energy transition projects.
EET will include (i) Essar Oil UK, the company’s refining and marketing business in North West England; (ii) Vertex Hydrogen, which is developing 1 gigawatt (GW) of blue hydrogen for the UK market, with follow-on capacity set to reach 3.8GW; (iii) EET Future Energy, which is developing 1 GW of green ammonia in India, targeted at UK and international markets; (iv) Stanlow Terminals Ltd, which is developing enabling storage and pipeline infrastructure; and (v) 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.
