JSW Energy, Australian Fortescue in pact
Both the companies collaborate to conduct scoping work on potential projects relating to the production of green hydrogen and utilizing it for green steel making
image for illustrative purpose
JSW Future Energy Limited, a 100 per cent subsidiary of JSW Energy Limited has entered into an agreement with Australian Fortescue Future Industries Ltd, a 100 per cent subsidiary of Fortescue Future Industries Ltd (FFI), to collaborate and conduct scoping work on potential projects relating to the production of green hydrogen and utilizing it for green steel making, hydrogen mobility, green ammonia and other mutually agreed industrial 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.
JSW Energy Joint Managing Director & CEO, 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 per cent 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 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."
