Fortescue Future Industries (FFI) and JSW Future Energy Limited, a wholly owned subsidiary of JSW Energy Limited, will jointly explore opportunities to develop green hydrogen projects in India as part of a framework agreement announced Thursday.
The agreement will see FFI and JSW Energy collaborate and conduct scoping work on potential projects relating to the production of green hydrogen and explore opportunities to utilise it for green steel making, hydrogen mobility, green ammonia and other mutually agreed industrial applications in India.
FFI CEO, Julie Shuttleworth said the world’s transition to a renewable energy future represents a major growth opportunity for FFI to realise its goal of becoming the leading fully renewable energy and green products company.
“Collaborating with JSW Energy provides an exciting opportunity to explore India’s renewable energy and green hydrogen market and positively contribute to India’s decarbonisation ambitions,” Ms Shuttleworth continued.
“FFI is actively establishing a portfolio of projects associated with renewable green hydrogen and green industrial products. We look forward to working with JSW Energy on potential projects in India and providing a strong contribution to the world’s transition away from fossil fuels.”
JSW Energy aims to become a 20 GW capacity power generating company by 2030 with about 85% of its portfolio comprising of green and renewable energy sources.
JSW Energy Joint Managing Director and CEO, Prashant Jain, said the company was keen to adopt innovative technologies like green hydrogen, offshore wind, battery energy storage and be a front-runner in the green energy revolution.
“Green hydrogen is going to be the disruptor in the clean energy space and in the near future we believe it will replace the fossil fuels used for various industrial applications as well as in the transportation and mobility sector,” Mr Jain said.
“We are excited about the partnership with FFI which has a promising repertoire of work in this area and I am confident that along with FFI, we will create a new era of green hydrogen applications in India and fulfil our net zero commitments earlier than our target of 2050.”