Essar Group bets $3.6 billion on decarbonisation in India and UK

Will invest $1.2 bn to develop a global supply hub for low-carbon fuels

Essar Group on Monday announced a fresh investment of $3.6 billion in setting up an Essar Energy Transition (EET) to spearhead green energy transition projects in the UK and India.

The green energy projects will include an investment of $1.2 billion in green ammonia manufacturing in India.

“We are setting up a green ammonia plant in India which will export products to the UK and other countries,” said Prashant Ruia, director, Essar Group.

The projects are expected to be commissioned by 2026-27.

The group will develop a range of low-carbon energy transition projects over the next five years, for which