Essar secures 650m financing deal
POWER & RENEWABLE ENERGY

Essar secures 650m financing deal

Essar Energy Transition Fuels has secured $650 million in financing, a significant step in supporting its shift toward sustainable energy. The funds are earmarked to develop clean fuel solutions, including hydrogen production and biofuels, as part of Essar’s strategy to reduce its carbon footprint and lead the energy transition.

This move aligns with global trends to reduce dependence on traditional fossil fuels and foster investment in green energy technologies. Essar’s long-term vision focuses on achieving sustainability in the energy sector, which is critical to meeting climate targets and ensuring energy security in the future.

By securing these financing facilities, Essar strengthens its capability to deliver innovative, low-emission fuel solutions. The financing comes at a crucial time as companies globally are being urged to adopt cleaner energy practices in response to mounting environmental concerns.

Essar’s proactive approach is expected to pave the way for further investments in the green energy domain and inspire similar initiatives across the industry. This funding will also help the company accelerate its projects in hydrogen fuel, biofuels, and other renewable resources, reinforcing its commitment to reducing carbon emissions and contributing to a more sustainable future.

Essar Energy Transition Fuels has secured $650 million in financing, a significant step in supporting its shift toward sustainable energy. The funds are earmarked to develop clean fuel solutions, including hydrogen production and biofuels, as part of Essar’s strategy to reduce its carbon footprint and lead the energy transition. This move aligns with global trends to reduce dependence on traditional fossil fuels and foster investment in green energy technologies. Essar’s long-term vision focuses on achieving sustainability in the energy sector, which is critical to meeting climate targets and ensuring energy security in the future. By securing these financing facilities, Essar strengthens its capability to deliver innovative, low-emission fuel solutions. The financing comes at a crucial time as companies globally are being urged to adopt cleaner energy practices in response to mounting environmental concerns. Essar’s proactive approach is expected to pave the way for further investments in the green energy domain and inspire similar initiatives across the industry. This funding will also help the company accelerate its projects in hydrogen fuel, biofuels, and other renewable resources, reinforcing its commitment to reducing carbon emissions and contributing to a more sustainable future.

Next Story
Infrastructure Transport

Kurla Gets New Elevated Harbour Line Station

Mumbai’s suburban railway network has taken a major step forward with the construction of a new elevated Harbour Line station at Kurla, part of the 5th and 6th line corridor. Over the weekend, Central Railway conducted a 14.5-hour mega block to divert tracks between Kurla and Tilak Nagar, clearing the way for the project.The tracks were shifted westwards to accommodate the elevated station, which will handle both regular Harbour Line services and trains originating or terminating at Kurla. Kurla, a key interchange hub, links the Harbour Line from CSMT to Navi Mumbai and Panvel with the Centr..

Next Story
Infrastructure Urban

India Plans 500 km Rail Expansion Along Northeastern Frontier

India is set to strengthen its northeastern frontier with the construction of 500 kilometres of new rail lines, including bridges and tunnels, to improve connectivity, accelerate logistics, and ensure military readiness along borders with China, Bangladesh, Myanmar, and Bhutan. The project is expected to cost Rs 300 billion ($3.4 billion) and is targeted for completion within four years.Though relations with China have recently improved, the infrastructure push reflects India’s long-term contingency planning amid a history of cycles of rapprochement and tension. The new rail corridors will c..

Next Story
Real Estate

BlackRock Leases Bengaluru Office for Rs 410 Billion

BlackRock Services India Pvt Ltd, the Indian arm of global asset manager BlackRock Inc, has leased 1.43 lakh sq ft of office space in Bengaluru’s Ashok Nagar for Rs 410 billion over a 10-year period, according to property registration documents accessed by Propstack.The commercial space, located in KNG Tower 1 and leased from IndiQube Space Limited, covers the ground floor and five additional floors. The monthly rent is set at Rs 2.72 billion at Rs 190 per sq ft, with an annual escalation of 5 per cent. A security deposit of Rs 21.75 billion has been paid. The lease transaction was registere..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?