Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

India’s JSW group company JSW Future Energy and Australian Fortescue Future have agreed to collaborate and develop potential projects for green hydrogen production for green steel making, hydrogen-based mobility and other industrial purposes in India. The two companies aim to explore clean energy opportunities in India and be forerunners in the hydrogen economy. 


With the global switch towards renewable and green energy sources, hydrogen fuel produced with electricity generated by low-carbon resources is posed to become a gamechanger. Besides industrial applications like steelmaking, logistics and mobility sectors could also utilize green hydrogen as a source of energy, resulting in an enormous growth opportunity in this space. 


JSW Future Energy is a wholly-owned subsidiary of JSW Energy and is part of the JSW group, which has a major presence in India’s steel industry. JSW Energy has a target to generate 20GW power by 2030 with around 85pc of it coming from renewable resources. The company is exploring the adoption of innovative technologies, including green hydrogen, offshore wind power generation and battery energy storage systems. JSW Energy is committed to becoming a net-zero carbon emission company by 2050. 


Fortescue Future Industries (FFI) is a renewable energy company of Fortescue Metals Group (FMG). FFI banks on Fortescue’s expertise to fulfill its vision of making green hydrogen an internationally traded seaborne energy commodity. The company’s initial plan is to produce 15mn mt green hydrogen, annually, by 2030. In March, the parent company Fortescue announced its ambition to achieve carbon neutrality by 2030. 

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