JSW Future Energy, a wholly owned subsidiary of JSW Energy, has entered into an agreement with Australia’s Fortescue Future Industries to work on potential projects related to the production of green hydrogen.
Both companies will explore opportunities to tap the clean energy market in India, JSW Energy said in a statement on July 29. Green hydrogen will be used in green steel making, hydrogen mobility, green ammonia and other industrial applications in India.
“JSW Energy has laid out a strategic blueprint to become a 20 GW capacity power generating company by 2030 with about 85 percent of the portfolio comprising of green and renewable energy sources,” joint managing director Prashant Jain said in the statement. “We also aspire to be a green energy future tech company with a proactive approach to adopt innovative technologies like green hydrogen, offshore wind, battery energy storage and be a frontrunner in the green energy revolution.”
Green hydrogen will disrupt the clean energy space and will replace the fossil fuels used for various industrial applications as well as in the transportation and mobility sector in the near future, Jain said.
Hydrogen is colour-coded depending on the energy used to produce the gas. Hydrogen made by electrolysis using renewable energy is known as green hydrogen and it doesn’t have a carbon footprint. Grey hydrogen is produced via natural gas while black/brown hydrogen is generated using coal.
While hydrogen has an edge as a fuel, there are challenges in terms of technology, efficiency, financial viability and scaling up, the power ministry has said.
JSW Energy is part of the $13 billion JSW Group. It is building about 2,500 MW of renewable energy projects, which are likely to be completed by 2023.
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