{"id":56047,"title":"Essar secures nearly £300m funding boost","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2026-08-06T07:34:30+00:00","modified":"2026-08-06T07:34:30+00:00","canonical_url":"https://stockmark.it/essar-energy-transition-backed-by-near-300m-funding-boost/","markdown_url":"https://stockmark.it/essar-energy-transition-backed-by-near-300m-funding-boost.md","json_url":"https://stockmark.it/essar-energy-transition-backed-by-near-300m-funding-boost.json","category":"Energy","categories":["Energy","Financial"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2026/08/essar-secures-nearly-300m-funding-boost.png?fit=1536%2C1024&quality=80&ssl=1","format":"news","language":"en-GB","content":"Essar Energy Transition has secured combined financing of approximately $400 million, equivalent to roughly £297 million, from three major banking institutions. This substantial injection of capital serves to bolster the firm’s working capital while reinforcing its position as a significant operator within the low-carbon sector.\n\nThe funding arrangement involves contributions from NatWest, ABN AMRO and Natixis CIB. The UK-based bank provided $175 million to an existing facility established with the Dutch lender in September 2024, which was subsequently matched by ABN AMRO. Meanwhile, the corporate finance arm of Banque Populaire Caisse d’Épargne doubled its current loan exposure to reach a total of $100 million, adding further financial firepower to the Indian-owned company.\n\nSatish Vasooja, chief financial officer at Essar Energy Transition, stated that these agreements enhance liquidity availability across a network of major European banking partners. He noted that increased commitment from existing lenders alongside the addition of NatWest supports the fuels strategy and demonstrates successful business performance. The enhanced liquidity is intended to provide stability during volatile market conditions while completing a receivable financing programme designed to deliver an optimised capital structure.\n\nAndrew Barraclough, head of asset-based lending origination at NatWest, described his bank’s contribution as reflecting both the strength of Essar Energy Transition’s business and the scale of its ambitions. He added that continued investment in projects supporting industrial decarbonisation allows greater flexibility to deliver on objectives and create long-term value.\n\nWhile the funding supports operational liquidity for core refining and fuel supply activities, the company is also advancing advanced sustainable aviation fuel goals at a hub near Stanlow refinery in North West England. Preliminary design work was completed with contractor Genesis using funds from the Department for Transport’s advanced fuel fund. Beyond this project, Essar aims to become a key hydrogen producer for HyNet track 1 and continues under a wider transformation strategy extending through 2035."}