JSW Energy said on Thursday its subsidiary JSW Future Energy has entered into a framework agreement with Australian Fortescue Future Industries to collaborate on green hydrogen production.
Solar and wind plants can produce green hydrogen with the help of electrolysers, and JSW Energy’s collaboration aligns with its plan to expand the renewable energy share in its portfolio to 85% by 2030 from the current 30%.
The announcement closely follows the central government unveiling its plans of imposing domestic green hydrogen consumption obligations on user industries. Apart from green hydrogen production, JSW Energy and Fortescue Future will conduct scoping work on utilisation of the fuel for green steel making, hydrogen mobility, green ammonia and other mutually agreed industrial applications in India.
The country currently consumes about around 6 million tonne of hydrogen annually.
The new and renewable energy ministry has already circulated the draft ‘National Hydrogen Energy Mission’ document for inter-ministerial consultation, aiming to create a hydrogen value-chain in the country and bring down the costs of hydrogen production. “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,” Prashant Jain, CEO, JSW Energy, said.
State-run IOC has recently announced plans of building the nation’s first ‘green hydrogen’ plant at its Mathura refinery. Power generator NTPC also plans to produce green hydrogen on a commercial scale. Setting up a manufacturing unit for electrolysers was also a part of the `75,000-crore green energy investment announcement recently made by RIL.
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