Fortescue Future Industries (FFI) has entered into a framework agreement with JSW Future Energy Limited, a wholly owned subsidiary of JSW Energy Limited, to investigate potential for green hydrogen development in India.
Under the terms of the agreement, FFI and JSW Energy will collaborate to scope potential projects involving the production of green hydrogen and the exploration of opportunities to use it in India for green steel manufacturing, hydrogen mobility, green ammonia, and other mutually agreed industrial applications.
FFI CEO, Julie Shuttleworth said, “FFI’s goal is to become the world’s leading fully renewable energy and green products company.
“The world’s transition to a renewable energy future represents a major growth opportunity and there will be many important markets for green hydrogen in the coming decade. 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.
“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 Joint Managing Director and CEO, Mr. Prashant Jain said, “JSW Energy has laid out a strategic blueprint to become a 20 GW capacity power generating company by 2030 with about 85% of the portfolio comprising of green and renewable energy sources.
“We also aspire to be a green energy future tech company with a pro-active approach 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.
“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 fulfill our net zero commitments earlier than our target of 2050.”