Question: With which of the following country the company JSW Future Energy, belongs to?
a) Australia
b) India
c) USA
d) Japan
Answer: (b)
Related Facts:-
- JSW Future Energy of India has entered into a framework agreement with Australia’s Fortescue Future Industries (FII) for production of green hydrogen.
- The two companies have joined together to explore green hydrogen development, and its use in industrial and transport sectors in India.
- JSW Energy this agreement is for assessing the potential of green hydrogen for green steel making, hydrogen mobility and green ammonia etc.
- Many companies are now working on the manufacturing processes to make green hydrogen.
- This Green Hydrogen is being touted as a future fuel and the Budget 2020-21 has announced a National Hydrogen Energy mission to boost prospects.
- It should be known that JSW Energy has laid out a strategic blueprint to become a 20 GW capacity power generating company by 2030.
- JSW Energy has planned to come out with about 85 per cent of the portfolio comprising of green and renewable energy sources by the end this decade.
- JSW Energy is preparing itself to adopt innovative technologies like green hydrogen, offshore wind, and battery energy storage among others.
- The Indian company is hopeful that this agreement with FFI can help fulfil their net zero commitments earlier than the target set for 2050.
- FFI CEO, Julie Shuttleworth said, “FFI is actively establishing a portfolio of projects associated with renewable green hydrogen and green industrial products.
- JSW Future Energy:
- JSW Future Energy is a wholly owned subsidiary of JSW Energy.
- It is part of the JSW Group – a diversified business conglomerate in India with interests across Steel, Energy, Infrastructure, Cement, Paints, Sports and Venture Capital.
- JSW Energy currently has 4,559 Mw of operational Thermal, Hydro and Solar Power capacity.
- The Company has around 2,500 Mw of Renewable energy projects under construction which are likely to be completed by 2023, a JSW statement said.
- Fortescue Future Industries (FII):-
- FFI is the renewable energy and industry company of Fortescue Metals Group (Fortescue).
- It has an initial plan to produce 15 million tonnes per annum of green hydrogen by 2030.
- Fortescue targets to achieve carbon neutrality by 2030.
- FFI is a key enabler of achieving this target through the development of its green electricity, green hydrogen, green ammonia and other green industrial projects.
Links:-
https://www.business-standard.com/article/companies/jsw-energy-australia-s-fortescue-future-join-hands-for-green-hydrogen-121072901103_1.html
https://www.thehindubusinessline.com/companies/jsw-energy-in-tie-up-with-australias-fortescue-for-green-hydrogen-projects/article35602671.ece