EKI, Shell partner to invest $1.6 billion to supply nature-based solutions in India

EKI Energy Services, an Indore-based green consultant, will form a joint venture with Royal Dutch Shell, which would invest $1.6 billion over five years to supply nature-based solutions to the Indian industry. As part of Shell’s strategy to develop in India’s renewables area, the joint venture would aim to produce 115 million carbon credits in five years. 51 percent of the joint venture will be owned by EKI Energy and 49 percent by Shell.

As per reports, a formal statement is expected to be made soon.  In the context of India’s commitment to net-zero carbon emission goals, the joint venture will cater to Shell’s green requirements as well as those of other local sectors.

In October 2021, Qatar Energy, previously Qatar Petroleum, and Shell agreed to pursue collaborative investments in blue and green hydrogen projects in the UK. It is the first hydrogen agreement between the two companies. The deal was signed on the side lines of the UK Global Investment Summit. EKI, which was founded in 2008, offers end-to-end climate change, carbon credits, and sustainability solutions.  The World Bank, Indian Railways, NTPC, Adani Group, SoftBank Group, Aditya Birla Group, and NHPC are among the company’s 2,500 clients in 40 countries. EKI Energy listed on the BSE in April 2021 at a price of Rs 102 per share. Earlier this month, the company’s stock closed at Rs 5,298 per share.

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