Mumbai Energy and environment solutions provider Thermax Ltd and Australia-based green energy and green technology company Fortescue Future Industries (FFI) have signed a memorandum of understanding (MoU) to explore green hydrogen projects, including new manufacturing facilities, in India.
Under the MoU, Thermax, and FFI plan to explore opportunities to jointly develop fully integrated green hydrogen projects for commercial and industrial customers in India.
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 collaboration with Fortescue Future Industries is perfectly timed to leverage the massive potential of the Indian green energy market that presents a multitude of opportunities, backed by favourable policies and incentives,” said Ashish Bhandari, MD & CEO, Thermax.