Thermax Ltd. and Fortescue Future Industries (FFI) of Australia have signed a Memorandum of Understanding (MoU) to explore green hydrogen projects, together with new manufacturing services, in India.
Under the MoU, Thermax and FFI will plan to explore alternatives to collectively develop absolutely built-in green hydrogen projects for business and industrial prospects in India.
The MoU between Thermax and FFI additionally contemplates the potential collaboration of the events within the growth of recent manufacturing services to assist green vitality projects in India.
The Performance Linked Incentive (PLI scheme), below India’s National Green Hydrogen Mission, might be leveraged for organising any new manufacturing capability.
Ashish Bhandari, MD & CEO, Thermax, stated, “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.”
FFI CEO Mark Hutchinson stated, “FFI is on a mission to replace fossil fuels by producing green electrons from renewable energy and then converting these green electrons into green hydrogen. Through the National Green Hydrogen Mission, the Indian Government has shown that it is committed to developing its green hydrogen industry to help the country decarbonise.”
