Essar Group has announced a substantial investment of Rs 30,000 crore over the next four years towards establishing a green hydrogen plant in Jamnagar, Gujarat. This move underscores the conglomerate’s strategic pivot towards clean energy as a central driver of its growth trajectory.

In addition to the hydrogen plant, Essar Group, which recently achieved debt-free status post asset sales, aims to expand its renewable energy footprint significantly. The plan includes leveraging 4.5 GW of renewable energy from Essar Renewables to electrolyze water for hydrogen production. This green hydrogen, recognized globally for its minimal environmental impact, will be utilized across various sectors including transportation, electricity generation, industrial applications, and residential heating.

Furthermore, Essar Group is pursuing ventures in green steel manufacturing in Saudi Arabia, decarbonization initiatives for its UK refinery, and developing an LNG and electric vehicle ecosystem aimed at reducing emissions from heavy trucks. The conglomerate also intends to explore opportunities in mining critical minerals essential for electric vehicle batteries, solar panels, and wind turbine magnets.

The ambitious investment plans are part of Essar’s broader strategy to expand its energy portfolio while significantly reducing carbon emissions across its operations.

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