JSW Future Energy Limited enters into a framework agreement with Australian Fortescue Future Industries Pty Ltd

JSW Future Energy Limited has entered into a framework agreement with Australian Fortescue Future Industries Pty Ltd to collaborate and conduct scoping work on potential projects relating to the production of green hydrogen and other allied activities.

The collaboration will enable both parties to explore opportunities to tap into the significant clean energy market opportunity in India and be a front-runner in a future hydrogen economy.

JSW Energy Joint Managing Director & CEO, Mr. 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".

FFI CEO, Julie Shuttleworth said, "FFI is setting out to become the world's leading energy and green products company, from fully renewable sources.

"The world's transition to a renewable energy future represents a major growth opportunity and there will be many important markets for green hydrogen in the coming decade. 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.

"FFI is actively establishing a portfolio of projects associated with renewable green hydrogen and green industrial products. We look forward to working with JSW Energy on potential projects in India and providing a strong contribution to the world's transition away from fossil fuels."

Shares of JSW Energy Ltd was last trading in BSE at Rs. 249.6 as compared to the previous close of Rs. 253.25. The total number of shares traded during the day was 154702 in over 1898 trades.

The stock hit an intraday high of Rs. 255.5 and intraday low of 240.6. The net turnover during the day was Rs. 38548083.

Source : Equity Bulls

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