Energy and environment solutions company — Thermax — has signed a Memorandum of Understanding with Fortescue Future Industries (FFI), an Australia-based green energy and technology company, to explore green hydrogen projects, including new manufacturing facilities in India.
Thermax and FFI plan to explore opportunities to jointly develop fully-integrated green hydrogen projects for commercial and industrial customers in India. Ashish Bhandari, managing director and CEO, Thermax, said, the collaboration with Fortescue was perfectly timed to leverage the potential of the Indian green energy market that presents a multitude of opportunities, backed by favourable policies and incentives.
Thermax and FFI will look at potential collaboration for the development of new manufacturing facilities to support green energy projects in India. The Performance-Linked Incentive (PLI scheme), under India’s National Green Hydrogen Mission, could be leveraged for setting up any new manufacturing capacity.
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The production of green hydrogen at an industrial scale would be a major step forward in decarbonising hard-to-abate industries in India, such as refineries, fertilisers and steel, the company said. In addition, to meeting the domestic requirements, electrolysers and subsystems could potentially be used for export internationally.
FFI is the green energy arm of Fortescue Metals Group that manages large-scale projects in its iron ore business.
FFI is in the process of constructing a green energy manufacturing centre in Gladstone, Queensland. The first phase of the project involves the construction of an electrolyser manufacturing facility, with a targeted initial output capacity of 2GW per annum.
