Australia-headed renewable energy and green hydrogen developer Fortescue Future Industries Pty Ltd (FFI), a subsidiary of global mining major Fortescue Metals Group Ltd (FMG), has announced that it has entered into a framework agreement with JSW Future Energy Ltd, a wholly-owned subsidiary of JSW Energy Ltd, to explore opportunities to develop green hydrogen projects in India.
Under the agreement, FFI and JSW Energy will collaborate and conduct scoping work on potential projects relating to the production of green hydrogen and explore opportunities to utilize it for green steel making, hydrogen mobility, green ammonia, and other mutually agreed industrial applications in India.
FFI’s goal is to become the world’s leading fully renewable energy and green products company. 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. 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, said Julie Shuttleworth, CEO, FFI.
FFI will leverage Fortescue’s world-leading track record of innovation and development of large-scale integrated infrastructure assets in order to deliver FFI’s vision of green hydrogen becoming the most globally traded seaborne energy commodity in the world, with an initial plan to produce 15 million tonnes per annum of green hydrogen by 2030.
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 of green and renewable energy sources. We also aspire to be a green energy future tech company with a pro-active 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 the disruptor 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, said Prashant Jain, Joint Managing Director, and CEO of JSW Energy.
