JSW Energy, Australian Fortescue Future Industries partners for green hydrogen
JSW Energy, wholly-owned subsidiary JSW Future Energy Ltd has announced that it has entered into an agreement with Australian Fortescue Future Industries Pty Ltd, a unit of Fortescue Future Industries Pty Ltd (FFI), to join forces on potential projects relating to the production of green hydrogen and utilizing it for green steel making, hydrogen mobility, green ammonia, and other applications in India.
The partnership 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 announcement said.
"JSW Energy has laid out a strategic blueprint to becoming a 20 GW capacity power generating company by 2030 with about 85 percent 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 soon, 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 decarbonization ambitions," he said.
"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," he said.