Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
India's ESSAR Group is planning to invest an estimated $3.62 billion over the next four years to build a green hydrogen plant in the western state of Gujarat, according to a statement made by ESSAR capital director, Prashant Ruia.
He said that the project being carried out by Essar Future Energy plans to create in Jamnagar, Gujarat, one gigawatt (GW) of hydrogen capacity in addition to a corresponding one million MT of green molecules capacity annually.
Essar will use 4.5 GW of renewable energy from a sister concern Essar Renewables to split water molecules to produce hydrogen and oxygen.
"The idea is to create green molecules that can be transported directly rather than green ammonia. Because you carry green ammonia and then you convert it into hydrogen. That cost is very high. So, we are trying to build a complex which can make green molecules from hydrogen and largely in the biofuels space and export that," Ruia said.
Also Read : JSW Steel Faces ₹6,155 Cr Claim from BPSL Lenders Over Delayed Resolution Plan India's Mahindra will invest over $150 mn in renewable energy projects
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