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Essar Future Energy Signs INR 5,100 Cr MoU with Gujarat Govt for 1 MTPA Biofuel Complex

Essar Future Energy has signed an MoU with the Gujarat government, at the Vibrant Gujarat Regional Conference in Rajkot, to invest INR 5,100 crore in setting up a 1 MTPA biofuel complex in Devbhumi Dwarka.

January 13, 2026. By Mrinmoy Dey

Essar Future Energy, a part of Essar Group, has announced that it has signed a Memorandum of Understanding (MoU) with the Government of Gujarat for an INR 5,100 crore investment to establish a 1 MTPA biofuel complex in Devbhumi Dwarka.

The MoU was exchanged at the Vibrant Gujarat Regional Conference in Rajkot. The MoU was signed by Vibhav Agarwal, CEO, Essar Future Energy, in the presence of Rushikesh Patel, Gujarat's Minister for Energy and Petrochemicals, and Kaushik Vekaria, Gujarat's Minister of State (Energy & Petrochemicals).

The SEZ-based project marks a significant step towards decarbonising aviation, shipping, and road transport, the company stated.

In October 2025, Essar Renewables, the renewable energy arm of the Essar Group, signed an MoU with the Government of Gujarat to invest INR 20,000 crore in developing 4 GW of renewable energy projects, including solar, wind, and battery storage facilities across Kutch, Jamnagar, and Devbhumi Dwarka districts of Gujarat.

In November 2025, Essar Renewables, the renewable energy arm of the Essar Group, announced that the company signed a memorandum of understanding (MoU) worth about INR 20,000 crore with the Government of Andhra Pradesh to develop 4 GW of renewable energy projects integrated with Battery Energy Storage Systems (BESS).

Earlier in 2025, the company signed an MoU with the Maharashtra Government to develop 2 GW of renewable energy projects. Under the terms of the agreement, Essar Renewables will invest approximately INR 8,000 crore in a mix of round-the-clock renewable energy projects, primarily aimed at supporting the Electric Vehicle truck charging ecosystem of Blue Energy Motors and Greenline.

Tags:

Biomass

Essar Future Energy

Essar Group

Vibrant Gujarat Regional Conference

Vibrant Gujarat Summit

Biofuel complex in Devbhumi Dwarka

Vibhav Agarwal

Rushikesh Patel

Kaushik Vekaria