Prashant Ruia Unveils Plans For The World’S First Decarbonised Green Refinery

10/8/2024 11:45:11 PM

(MENAFN- IANS) New Delhi, Oct 9 (IANS) Essar is on the path to becoming the world's first decarbonised green refinery in the UK, as highlighted by Prashant Ruia, Director of Essar Capital, at the financial Times energy Transition Summit 2024 in Delhi on October 8.

During the keynote interview, Essar's ambitious sustainability strategy took centre stage, with a focus on transforming core sectors -- Energy, Infrastructure, Metals & Mining, and technology & Retail -- into benchmarks of environmental responsibility.

Essar is actively expanding its portfolio of green businesses, with plans to lead innovations in areas such as green trucking, 24/7 renewable energy solutions, and hydrogen integration across its refineries. A key development in this journey is the creation of the UK's first large-scale low-carbon hydrogen hub at the Stanlow refinery. The hub is expected to deliver 350 MW of hydrogen and capture 2.5 million tonnes of carbon annually, which equates to taking 1.1 million cars off the road.

Essar is also making a substantial contribution to the UK's energy needs, with the Stanlow refinery currently supplying 16 per cent of the country's fuel. The UK's recent £20 billion decarbonization initiative further supports Essar's plan to reduce carbon emissions at Stanlow by 95 per cent by 2030, positioning it as a global leader in green refining.

Essar's efforts in green trucking were also underscored, focusing on reducing emissions from India's trucking industry, which currently emits over 400 million tons of CO2 annually. The goal is to cut emissions by 70 per cent using a combination of LNG and electric trucks. A dual ecosystem is being developed, where electric trucks will be used for shorter distances and LNG trucks for longer hauls. Already, over 500 LNG trucks, capable of travelling up to 1,200 kilometres without refuelling, are operational, with plans to significantly scale up the fleet in the near future.

Essar's sustainability approach also includes integrating multiple renewable sources into a hybrid model that can deliver reliable energy around the clock. With innovations like battery storage and pumped hydro, the goal is to provide uninterrupted power for industries and consumers alike.

The company's focus remains on enabling the energy transition in a way that is both sustainable and commercially viable, reaffirming Essar's role as a leader in bridging the gap between economic growth and environmental stewardship.

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