Essar Greenlights Massive Rs 30,000 Crore Hydrogen Project in Gujarat

The Essar Group has announced plans for a substantial investment of Rs 30,000 crore over the next four years to establish a green hydrogen plant in Jamnagar, Gujarat. This initiative marks a pivotal move in the conglomerate's strategy to drive growth through sustainable practices. The project aims to develop one gigawatt (GW) of hydrogen production capacity along with one million tonnes per annum (MTPA) of associated green molecules capacity within the specified timeframe.

To power this ambitious endeavor, Essar Group will utilize 4.5 GW of renewable energy from its subsidiary, Essar Renewables, for electrolyzing water molecules to generate hydrogen and oxygen. The facility will focus on producing green molecules, particularly in the biofuels sector, leveraging the hydrogen produced.

Beyond renewable energy ventures, Essar Group plans to expand its electricity generation capabilities from coal, aiming to scale up to approximately 10,000 megawatts (MW) over the next three to five years. This includes significant expansions like the Salaya-DevBhoomi Dwarka thermal power plant by an additional 1,600 MW.

In parallel efforts towards sustainable transport solutions, Essar is actively developing an ecosystem for liquefied natural gas (LNG) and electric mobility. This includes a fleet of 450 to 500 LNG-powered trucks, aimed at reducing CO2 emissions by 30-35% compared to diesel-powered counterparts. The company is also investing in electric trucks to bolster its clean transportation offerings.

Additionally, Essar Group is forging ahead with plans to establish a retail network for supplying LNG to trucks, further supporting its commitment to decarbonizing logistics operations. The conglomerate is also extracting gas from coal seams in West Bengal and exploring opportunities in mining critical minerals essential for electric vehicle batteries, solar panels, and wind turbines.

Overall, Essar Group's strategic investments underscore its dedication to sustainable growth across energy, mobility, and resource sectors, positioning itself as a key player in India's green transition.

News by Rahul Yelligetti