Thermax- Fortescue to collaborate in green hydrogen production

10 Mar 2023 , 02:43 AM

Thermax Limited, a leading provider of energy and environmental solutions, and Fortescue Future Industries (FFI), an Australia-based green energy and green technology company, have signed a Memorandum of Understanding (MoU) to explore green hydrogen projects in India, including new manufacturing facilities.

Thermax and FFI intend to explore opportunities to jointly develop fully integrated green hydrogen projects for commercial and industrial customers in India under the terms of the MoU.

Green hydrogen production on a large scale would be a significant step forward in decarbonizing India’s difficult-to-abate industries such as refineries, fertilisers, and steel.

The agreement between Thermax and FFI also considers the parties’ potential collaboration in the development of new manufacturing facilities to support green energy projects in India.

The Performance Linked Incentive (PLI) scheme, which is part of India’s National Green Hydrogen Mission, could be used to establish any new manufacturing capacity.

In addition to meeting domestic requirements, electrolysers and subsystems may be exported internationally.

Fortescue Metals Group’s experience in managing large-scale projects in its iron ore business provides a solid foundation for FFI, Fortescue’s green energy arm, to expand into manufacturing projects in green hydrogen.

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