JSW Steel Signs Green Methanol MoU with Bharatia and Carbon Iceland

JSW Steel Limited, Bharatia, and Carbon Iceland International signed a strategic MoU to jointly develop large-scale green methanol production in India. The agreement was formalised in Oslo during the 3rd India-Nordic Summit.

JSW Steel Limited, Bharatia, and Carbon Iceland International signed a Memorandum of Understanding on May 25, 2026 in Oslo, Norway, at the sidelines of the 3rd India-Nordic Summit. The MoU aims to jointly explore and develop a large-scale green methanol, or eMethanol, project in India. The signing was witnessed by Iceland's Prime Minister Kristrún Frostadóttir and the Icelandic Ambassador to India, underscoring the strategic significance of the collaboration at a diplomatic level.

Green methanol, produced using renewable energy and green hydrogen, is considered a key decarbonisation fuel for industries including steel, shipping, and chemicals. For JSW Steel, one of India's largest steel producers, the development of eMethanol infrastructure represents a significant step in its industrial decarbonisation roadmap. Carbon Iceland International brings expertise in carbon-neutral fuel production, while the India-Nordic Summit partnership signals India's intent to leverage Nordic clean technology capabilities.

This MoU is directly relevant to ESG investors tracking hard-to-abate sector decarbonisation. The steel industry globally accounts for approximately 7-9% of CO2 emissions, and alternative fuels like green methanol are essential to achieving deep emissions reductions without shutting down capacity. JSW Steel's move to explore eMethanol at scale positions it ahead of potential carbon pricing and export market regulatory requirements, including the EU's Carbon Border Adjustment Mechanism, while also aligning with India's National Green Hydrogen Mission goals.

Key figure — 3rd India-Nordic Summit (Oslo, May 25, 2026)