Essar Energy transition fuels secures $650 mn in financing
POWER & RENEWABLE ENERGY

Essar Energy transition fuels secures $650 mn in financing

Essar Energy Transition (EET) Fuels, the owner of the Stanlow refinery, announced on Thursday that it has successfully secured $650 million in receivable financing and trade credit financing facilities this quarter.

According to the official press release, the new funding includes a $150 million receivable facility with ABN AMRO Bank, an extension and increase of the HCOB and UMTB facility to $200 million for receivable financing, and a $300 million trade credit financing agreement with an international oil company.

These facilities are designed to enhance EET Fuels’ strategic and financing partnerships, particularly with major European banks and established trading partners. The funding will also support the development of customer offerings and bolster relationships and sales volumes, further strengthening EET Fuels’ balance sheet.

“This is a fantastic outcome for EET Fuels. With the backing of significant financing partners for our decarbonization strategy, we can continue to invest in and grow our business with confidence,” stated Satish Vasooja, CFO of EET Fuels.

Tarun Naruka, head of corporate and structured finance at EET Fuels, added that these new facilities will enhance the company’s financial flexibility and strengthen its balance sheet.

The press release also highlighted that EET Fuels is setting a new global standard for industrial decarbonization, aiming to become the first low-carbon process refinery and planning to reduce emissions by 95% by the end of the decade.

Essar Energy Transition (EET) Fuels, the owner of the Stanlow refinery, announced on Thursday that it has successfully secured $650 million in receivable financing and trade credit financing facilities this quarter.According to the official press release, the new funding includes a $150 million receivable facility with ABN AMRO Bank, an extension and increase of the HCOB and UMTB facility to $200 million for receivable financing, and a $300 million trade credit financing agreement with an international oil company.These facilities are designed to enhance EET Fuels’ strategic and financing partnerships, particularly with major European banks and established trading partners. The funding will also support the development of customer offerings and bolster relationships and sales volumes, further strengthening EET Fuels’ balance sheet.“This is a fantastic outcome for EET Fuels. With the backing of significant financing partners for our decarbonization strategy, we can continue to invest in and grow our business with confidence,” stated Satish Vasooja, CFO of EET Fuels.Tarun Naruka, head of corporate and structured finance at EET Fuels, added that these new facilities will enhance the company’s financial flexibility and strengthen its balance sheet.The press release also highlighted that EET Fuels is setting a new global standard for industrial decarbonization, aiming to become the first low-carbon process refinery and planning to reduce emissions by 95% by the end of the decade.

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement