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Australia’s Fortescue and India’s JSW Energy in Hydrogen Projects Tie-Up

Fortescue and JSW Energy to study use of hydrogen in steel production; Two groups keen to eliminate carbon emissions from steel processing


Iron ore magnate and Fortescue Metals chief Andrew Forrest has been seeking to eliminate carbon emissions from traditional steel-making furnaces. Photo: YouTube screen grab from January 2021.

• Fortescue and JSW Energy to study use of hydrogen in steel production

• Two groups keen to eliminate carbon emissions from steel processing

 

A unit from Australia’s Fortescue Metals Group has teamed up with a subsidiary of Indian power producer JSW Energy for projects including production of hydrogen and its use in making steel in India.

Fortescue Future Industries (FFI) has signed the agreement with JSW Future Energy to collaborate on hydrogen mobility, green ammonia and their industrial applications in India.

FFI has been criss-crossing the globe signing framework agreements for renewable energy projects but has come under fire from analysts for providing little detail on how its projects would be funded.

FFI’s fiscal 2022 expenditure is expected to be between $400 million and $600 million, Fortescue said in its fourth-quarter production report late on Thursday.

Key areas of activity for FFI include green fleet development and decarbonisation technologies, as well as scoping studies and asset identification across Australia, Asia, Africa, Latin America, Europe and North America.

 

  • Reuters

 

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