Essar has been aiming to implement its idea for a planned energy transition project. In this endeavor, it has partnered up with a second licensor technology provider. This partnership with Topsoe, a Denmark-based Organisation, is set to bring about new changes in the industry. In a statement shared by Topsoe, it mentioned that through this collaboration, they aim to provide Essar with SNOXTM technology.
The company further stated, “This is a pivotal step towards Essar Oil UK’s USD 1.2 billion investment in decarbonizing the refinery by reducing about 2 million tons of CO2 emissions, making it the world’s first low carbon refinery and a producer of low carbon fuels.” However, this is not the first endeavor by Essar in the clean energy department.
Very recently it ventured into a project that primarily focused on low-carbon projects that would benefit India and The United Kingdom, within five years. This responsibility was taken by Essar Energy Transition (EET); a new unit of the Company.
Further shedding light on the same, Deepak Maheshwari, CEO of Essar Oil UK, said in a statement, “We are ready to move into the next phase of Essar Oil UK’s decarbonization strategy. With an investment of USD 1.2 billion, Essar Oil UK is positioned to be the world’s first low-carbon refinery. The industrial carbon capture facility, combined with our upcoming hydrogen fuel switching project, will reduce the refinery’s CO2 emissions by 95 percent”.