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JSW Future Energy collaborates with Australian Fortescue Future Industries

Capital Market 

For explore clean energy market opportunities in India

JSW Future Energy, a 100% subsidiary of JSW Energy has entered into a framework agreement with Australian Fortescue Future Industries, a 100% subsidiary of Fortescue Future Industries(FFI) to collaborate and conduct scoping work on potential projects relating 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.

JSW Energy Joint Managing Director & CEO, Prashant Jain said JSW Energy has laid out a strategic blueprint to become a 20 GW capacity power generating company by 2030 with about 85% 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 a disruption in the clean energy space and in the near future, we believe it would 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 Fortescue Future Industries Pty Ltd (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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, July 29 2021. 20:13 IST
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