Mumbai: Essar Oil UK, along with clean energy Progressive Energy, plans to jointly invest £750 million to set up two hydrogen production hubs at Essar’s Stanlow Refinery, the former which is controlled by billionaire brothers Sahshi Ruia and Ravi Ruia said in a statement on Wednesday.
The two companies have tied up to set up a venture to produce low-carbon hydrogen that will be used across the UK’s industrial decarbonisation cluster– HyNet North West– which has been developed by Progressive Energy. The move is in line with the UK government’s aim to achieve net zero carbon by 2050.
