JSW Future Energy Limited, a subsidiary of JSW Energy Limited has entered into an agreement with Australian Fortescue Future Industries Ltd, a subsidiary of Fortescue Future Industries Ltd (FFI). This agreement has been signed to join forces and conduct scoping work on potential projects associted 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 would further 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.
Prashant Jain Joint Managing Director & CEO, Prashant JSW Energy says, "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.”
He further adds, "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."
Julie Shuttleworth, CEO, FFI, "FFI is setting out to become the world's leading energy and green products company, from fully renewable sources. 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.”
Julie continues, "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."
FFI is the 100 percent renewable green energy and industry company of Fortescue Metals Group Limited (Fortescue).