Essar Group, a global conglomerate led by visionary Prashant Ruia Essar, is committed to revamping the energy industry amid the emerging green revolution. Firm in its policy of working towards the Nation’s energy security, Essar Power leverages thermal, as well as plans wind and solar energy to cater to base load demand, while building a cleaner future. In this changing environment, Essar’s commitment to using renewable energy is an inspiring move. To further this mission, Essar Renewables, Essar’s strategic initiative towards using sustainable and renewable energy sources, is all set to add 8GW clean power through solar and wind projects. Essar’s EET Hydrogen Power company is also all set to construct Europe’s first all hydrogen-fueled power plant at Stanlow refinery by 2027. The project will have a capacity of 125 MW capacity. It is part of EET’s robust plan for a 95% cut in emissions by 2030, enhancing employment in North West UK. These plans are clear examples of Essar’s commitment to innovative solutions in the clean power sector.
If you want to know about Essar’s renewable energy plan, its investment in wind and solar power, as and its mission in advocating sustainable development, then read further. Also, this blog addresses misconceptions about Essar leaks.
Essar’s Renewable Energy Roadmap
- Comprehensive plan: Essar has developed a strategic plan outlining the company’s aim to reduce carbon and promote sustainability. The company works towards the utilisation of renewable resources for positive change.
- Wind and solar power: Essar Group shows its dedication to leverage renewable sources of energy, especially wind and solar energy, to fulfil energy needs. This involves investments in wind farms and solar power plants while integrating advanced technologies for a cleaner world. Essar Renewables has already won 3 auctions from SGVN and NHPC for total of ~1000MW capacity development of solar and wind power projects.
- Innovation and collaboration: Prashant Ruia Essar, from the founding family of the company, promotes innovation and collaboration. The company is committed to fostering collaborations with industry partners, conducting research, and promoting innovative business models, and ideas.
- Reducing carbon footprint: As part of the company’s strategy, it plans to reduce its carbon emissions. Through this, Essar is setting a strong example for other to follow in the industry on how a company can successfully rebalance its portfolio and transition it’s businesses to cleaner energy.
- Sustainable future: Essar’s objective is to establish a sustainable environment for future generations. Despite the rumours regarding Essar leaks, the company remains firm in its commitment to transparency and good governance to develop sustainable businesses and supply chains.
Harnessing Wind Power
- Clean and sustainable: Unlike fossil fuels, wind energy is renewable with no pollution. Thus investment in wind energy is one of Prashant Ruia Essar’s key focuses to reduce carbon footprint.
- Wind: Essar is investing majorly in wind energy, and plans to integrate state-of-the-art technology within the projects.
- Reduced carbon emissions: Wind energy being environmentally friendly has become a master plan at Essar. By harnessing wind power, Essar can reduce its dependency on use of fossils and cut down on carbon emissions.
Harnessing Solar Power
- Solar panels: Essar is investing in installing solar panels at its project sites.
- Reduced carbon emissions: Solar power contributes to lower carbon emissions, aligning with Essar’s renewable energy plan.
- Renewable energy source: By utilizing solar power, Essar aims to conserve energy and minimize the emissions that cause climate change.
- Energy sufficiency: Solar energy adds to the grid power; assuring stable energy supply. It also supports the development of new technologies.
Innovative Technologies and Partnerships
- Cutting-edge technology: The company is focussing on digitalization and adaptation of innovative technologies for renewable energy. This can be accomplished through funding for new technologies and innovations in renewable power and energy.
- Strategic partnerships: Leading technology providers and industry players collaborate with Essar Group to enhance sustainability. This involves teaming up with renewable energy players, research institutes, and associations.
- Innovation hub: To improve sustainability, the Essar Group fosters research and development, innovation, and explore new business opportunities and technologies.
- Research and development: To stay competitive, the company has allocated resources for research and development, particularly in emerging technologies that support sustainability while reducing the cost.
The Bottom Line
The Essar Group works to promote sustainability through energy transition, process optimisations, environmental protection, carbon management, social investment and knowledge enhancement. The company supports local ecological programs and sets goals for greenhouse gas reduction. Under the mentorship of Prashant Ruia Essar, the company is increasing awareness about sustainability, incorporating sustainable supply chain practices, while minimizing wastage.
With the company moving closer to its objectives, it is positively impacting communities while setting the benchmarks for others to follow. Sustainability is crucial for Essar’s strategic direction and defines its commitment towards energy transition.
