JSW Energy, Fortescue Future tie-up for green hydrogen generation

JSW Future Energy enters into a framework deal with Australia’s Fortescue Future Industries (FII) for potential projects relating to the generation of green hydrogen. JSW Energy told the media that the deal aims to estimate the potential of green hydrogen for producing green steel, hydrogen mobility, green ammonia and other mutually consented industrial applications in India. While hydrogen production and its uses have been established, many firms are now operating on the manufacturing methods to make it cleaner. This green hydrogen is being promoted as a future fuel and the Budget 2020-21 has declared a National Hydrogen Energy mission to raise prospects. Joint Managing Director and CEO at JSW Energy, Prashant Jain told the media that JSW Energy has laid out a strategic blueprint to grow into a 20 GW capacity power-producing firm by 2030 with about 85% of the portfolio including green and renewable energy sources. Jain said that JSW Energy would also aspire to use innovative technologies like offshore wind, battery energy storage and green hydrogen among others. Additionally, he said that green hydrogen is going to be a disturbance in the clean energy space and in future, they assume it would substitute the fossil fuels utilised for several industrial applications and in the transportation and mobility area. He also said that this deal with FFI could help JSW meet their net-zero commitments quicker than their aim of 2050. Julie Shuttleworth, CEO, FFI, told the media that the company is actively building a portfolio of projects connected with renewable green hydrogen and green industrial products. JSW Future Energy is a wholly-owned subsidiary of JSW Energy. It is part of the JSW Group – a diversified business conglomerate in India with interests in energy, steel, cement, paints, infrastructure, venture capital and sports. Currently, JSW Energy has 4,559 MW of operational hydro, solar and thermal power capacity. The firm has about 2,500 MW of Renewable energy projects under development which are likely to complete by 2023, a JSW statement said. FFI is the renewable energy and industry firm of Fortescue Metals Group (Fortescue). It has an initial plan to generate 15 million tonnes per annum of green hydrogen by 2030. Fortescue aims to attain carbon neutrality by 2030. The company said that FFI is a fundamental enabler of accomplishing this goal through the development of their green hydrogen, green ammonia, green electricity, and other green industrial projects. Image Source Also read: Indian Oil to develop green hydrogen plant at Mathura refinery Also read: Fusion Fuel, BGR Energy to develop green hydrogen projects in India