Australia-based Fortescue Future Industries (FFI) has entered into a framework agreement with India-based JSW Future Energy Limited, a wholly owned subsidiary of JSW Energy Limited, to explore opportunities to develop green hydrogen projects and utilising it for green steel making, hydrogen mobility, green ammonia and other applications in India.
The collaboration will enable both parties to explore opportunities to tap into the significant clean energy market opportunity in India and be a front-runner in a future hydrogen economy, an official statement said.
FFI is the 100% renewable green energy and industry company of Fortescue Metals Group Limited (Fortescue). FFI is establishing a global portfolio of renewable green hydrogen and green ammonia operations.
JSW Future Energy Limited is a 100% subsidiary of JSW Energy Limited (JSWEL), a leading power company in India.
“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 green and renewable energy sources. We also aspire to be a green energy future tech company with a proactive 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 a disruption in the clean energy space and in the near future, we believe it will replace fossil fuels used for various industrial applications as well as in the transportation and mobility sector,” JSW Energy joint managing director and CEO Prashant Jain said.
FFI CEO, Julie Shuttleworth said 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,” he said.