Essar Group, invested in Energy, Metals and Mining, Infrastructure and Technology sectors, today announces 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 US$3.6 billion in developing a range of low carbon energy transition projects over the next five years, of which US$2.4 billion will be invested across its site at Stanlow, between Liverpool and Manchester and US$1.2 billion in India.
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.
The investments, across a range of hydrogen production technologies, decarbonisation, biofuels (road and aviation), and infrastructure projects, will contribute to North West England quickly becoming one of the leading post-carbon industrial clusters in Europe. EET believes that these investments will support the reduction of around 3.5 million tonnes of carbon dioxide, around 20% of the total industrial emissions in North West England.
