Fortescue Future Industries (FFI) and JSW Future Energy Ltd have signed a framework agreement to explore opportunities to develop green hydrogen projects in India.
Both partners will work together on the scoping study on potential green hydrogen production-related projects and explore opportunities to use hydrogen in green steel making, transportation, green ammonia and industrial applications in India.
Julie Shuttleworth, FFI CEO, said, “FFI’s goal is to become the world’s leading fully renewable energy and green products company.”
Mr Prashant Jain, JSW Energy Joint MD and CEO, said, “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 fulfil our net-zero commitments earlier than our target of 2050.”
The collaboration will provide an opportunity for FFI to explore India’s renewable energy and green hydrogen market and contribute to India’s decarbonisation ambitions. FFI is the 100% renewable green energy and industry company of Fortescue Metals Group Limited (Fortescue) and is developing a global portfolio of renewable green hydrogen and green ammonia projects.
JSW Future Energy Limited is a 100% subsidiary of JSW Energy Limited (JSWEL), a leading power company in India. It is also a part of the JSW Group, a diversified business conglomerate in India involved in steel, energy, infrastructure, cement etc. JSW Energy aims to become a 20 GW capacity power generating company by 2030 with about 85% energy generates from green and renewable energy sources.