Essar Energy

Established in 1998 as a wholly owned business unit of the Essar Group conglomerate, the business was floated on the London Stock Exchange in April 2010, marking the exchange's largest initial public offering since December 2007. The company was added to the FTSE 100 Index at the subsequent quarterly review.

Essar Global Fund Limited retained an approximate 76% stake in Essar Energy. The lead underwriters to the initial public offering were JPMorgan Chase and Deutsche Bank. The primary offering raised £1.3bn. Ravi Ruia, the Chairman, and Sanjay Mehta, a senior board member of Essar Global Limited, were identified in an Economic Times of India article as instrumental in the listing.

Essar Energy announced in 2013 that it would sell its 50% stake in the Kenya Petroleum Refineries Limited to the Kenyan government and, in May 2014, the company was acquired by its majority shareholder, Essar Global Fund Limited.

The Sunday Times reported on 26 September 2021, that the company was conducting urgent talks with HM Revenue and Customs to prevent it from collapse. The company reached an agreement with HM Revenue and Customs on 29 September 2021.

Power plants

Essar Energy has an installed power generation capacity of 3,910 MW across six plants.

Essar Hazira Power Plant, Hazira, Gujarat. It is a 515 MW (1×215, 1×300 MW) gas-based thermal power plant. The plant is fully functional.

Essar Vadinar Power Plant, Vadinar, Gujarat. It is a 1,010 MW (1×120, 1×380 MW, 1×510 MW) captive thermal power plant. The plant is fully functional.

Essar Bhander Power Plant, Hazira, Gujarat. It is a 500 MW (1×500 MW) gas-based thermal power plant. The plant is fully functional.