Empower India Limited (EIL) unveiled strategic plans to diversify into the green energy sector, aiming to combat global pollution. The company’s green energy initiatives encompass bio-fuels, solar and wind power, green hydrogen, electric vehicles, and lithium-ion batteries.
EIL is committed to developing eco-friendly solutions and has identified the production of bio-fuels from agricultural and food waste as a key area to provide sustainable alternatives to fossil fuels. Additionally, the company plans to invest heavily in the establishment of large-scale solar and wind power farms to generate renewable electricity. EIL is also focusing on advancing research and the commercial production of green hydrogen through water electrolysis.
Recognizing the increasing demand for green energy and the benefits of government incentives, EIL is entering the green power market with an initial project involving rooftop solar panel installations. By capitalizing on government subsidies, the initiative aims to benefit residential customers and significantly boost EIL’s growth in the green energy sector.
For the phase-I implementation of the rooftop solar panel project, EIL is in the process of identifying suitable technical partners to provide the necessary expertise. Future phases will see EIL expanding into bio-fuels, green hydrogen, EVs, lithium-ion batteries, and other eco-friendly ventures.
EIL also aims to capitalize on the burgeoning carbon credit market. With the introduction of the government’s carbon credit trading scheme, the voluntary carbon credit market in India, currently valued at $2 billion, is projected to reach $200 billion by 2030.
As reported by EQUITY BULLS, EIL plans to position itself as a leading provider of comprehensive solutions in this growing market, anticipating significant opportunities in the coming years.
