Fortescue, JSW to develop green hydrogen in India
Fortescue Future Industries (FFI) and JSW Future Energy have reached an agreement to develop green hydrogen projects in India and use it for green steelmaking.
FFI and JSW will also conduct scoping work on potential projects on green hydrogen production, hydrogen mobility, green ammonia and other industrial applications in India, FFI said.
"JSW Energy has laid out a strategic blueprint to become a 20GW capacity power-generating company by 2030 with about 85pc of the portfolio comprising green and renewable energy sources," said JSW Energy joint managing director and CEO Prashant Jain.
"Collaborating with JSW Energy provides an exciting opportunity to explore India's renewable energy and green hydrogen market, and positively contribute to India's decarbonisation ambitions," said FFI CEO, Julie Shuttleworth.
The steel industry is one of the top carbon-emitting sources globally and all major steel producers in India are aiming to reduce carbon emissions by turning to green energy sources.
Top steel producer China is also planning to cut down emissions.
Global steelmakers, the World Steel Association (WSA) and ResponsibleSteel have produced a set of recommendations for adopting science-based targets for the industry's road to net-zero emissions.
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