Key Takeaways
- Essar aims to redefine its sectors through innovation, from green trucking to 24/7 renewable energy solutions and the integration of hydrogen in its refineries.
- Essar’s decarbonised green refinery in UK is expected to reduce carbon emissions by 95 per cent by 2030.
- Essar Energy Transition is spearheading the creation of the UK’s first large-scale low-carbon hydrogen hub at its Stanlow refinery.
New Delhi: Indian conglomerate Essar is on its way to become world’s first decarbonised green refinery in UK and is actively expanding its portfolio of green businesses.
Essar is expanding its portfolio of green businesses. Prashant Ruia, Director of Essar Capital, stated, “We aim to redefine our sectors through innovation, from green trucking to 24/7 renewable energy solutions and the integration of hydrogen in our refineries.”
He highlighted Essar’s involvement in the UK energy market, where the group’s refinery currently meets 16 per cent of the country’s fuel needs.
He stated, “With the UK government’s recent £20 billion commitment to decarbonization, we are on track to make Stanlow the world’s first decarbonised green refinery, significantly contributing to our mission of reducing carbon emissions by 95 per cent by 2030.”
In a significant development, Ruia announced that Essar Energy Transition is spearheading the creation of the UK’s first large-scale low-carbon hydrogen hub at its Stanlow refinery. This hub, with HPP1 is set to deliver 350 MW of hydrogen and capture 2.5 million ton of carbon annually—equivalent to removing 1.1 million cars from the road.
He emphasized on green trucking, which was particularly notable, as he pointed out the impact of India’s trucking industry, which currently emits over 400 million ton of CO2 annually.
“With nearly 4 million trucks on the road, our goal is to reduce emissions by 70 per cent through a combination of LNG and electric trucks,” he stated.
Essar is developing a combination of LNG and electric truck ecosystems, with electric trucks primarily used for short distances and LNG trucks for longer hauls.
“Essar currently operates more than 500 trucks, and our plan is to scale up significantly in the next few years,” he said adding additionally, Essar’s commitment to integrating various renewable sources into a hybrid model that delivers reliable energy round-the-clock.
Essar is exploring innovative solutions like battery storage and pumped hydro to provide uninterrupted power to industries and consumers.
Emphasising Essar’s strategy to enable the energy transition in a commercially viable manner, Ruia stated, “We believe much of the energy transition can be achieved efficiently on a cost-competitive basis.”
