Essar Group

Essar-backed Mesabi Metallics raises $520 million from Breakwall for Minnesota iron ore project

The plant intends to support the reshoring of a strategically important part of the American steel supply chain. The Essar Group has already invested more than $2 billion in the project

US EXIM Bank commits up to $10-bn support for Essar Group's Minnesota mining project

Mesabi Metallics is building an integrated iron ore mining and processing facility designed to produce about seven million tonne of high-grade direct-reduction iron ore pellets annually

Essar Group seeks foreign capital to fund green energy ambitions

Investment bank Avendus Capital is advising Essar Group on the fundraise.

RBI rate cut will boost power demand, increase investments in energy projects

The repo rate cut is expected to boost India’s power demand, besides making it easier for power companies to finance new renewable energy projects. It could also mean improved financial health of distribution companies (discoms).

Essar Group's Prashant Ruia sees lower battery prices boosting green plans

India is aiming to reach 500 gigawatts of clean power capacity by 2030 and affordable storage solutions for intermittent sources like solar and wind are crucial in a country that still gets nearly three-quarters of its electricity from coal.

Essar Group co-founder Shashi Ruia dies of prolonged illness at 80

Ruia, who co-founded metals-to-technology conglomerate Essar with his brother Ravi, died in Mumbai on November 25, family said in a statement.

Essar Energy Transition to build Europe's first hydrogen-fuelled power plant

Without giving details about the investment involved in building the project, the firm in a statement said it is announcing "the launch of EET Hydrogen Power, Europe's first hydrogen-ready combined heat and power plant (CHP) to be built at its Stanlow refinery, with the aim of completing construction in 2027".

Essar awaits final approvals to start work on $4.5 bn steel plant in Saudi Arabia

The approvals are expected anytime now, after which the conglomerate will start working on the 4 million tonne per year steel plant along with port facilities at Ras Al-Khair in Saudi Arabia.

Essar Group venture Pluckk reports Rs 100 crore ARR in FY24

Founded in 2021, Pluckk operates in Delhi, Mumbai, Bengaluru and Pune through more than eight marketplace platforms and delivers over 2 million products every month, a company statement said.

Vertex Hydrogen to change name to EET Hydrogen

This change is a natural progression in the development of the company from an early-stage idea into the leading hydrogen production project in the UK, a statement said.