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Indian Oil, L&T and ReNew team up to develop green hydrogen business

Inspenet.

Published: April 6, 2022

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By: Dr. Franyi Sarmiento, Ph.D., Inspenet, April 6, 2022.

To drive India’s decarbonization, Indian Oil Corporation Limited, Larsen & Toubro Limited and ReNew Power announced the signing of a binding term sheet for the formation of a joint venture (JV) to develop the nascent green hydrogen sector in India. India.

The tripartite company is a synergistic alliance that brings together L&T’s strong credentials in the design, execution and delivery of EPC projects, IndianOil’s established expertise in petroleum refining along with its presence across the energy spectrum, and experience of ReNew in supplying and developing utility-scale renewable energy solutions.

In addition, IndianOil and L&T have signed a binding term sheet to form an equity JV to manufacture and sell electrolyzers used in green hydrogen production.

Source : https://es.marketscreener.com/cotizacion/accion/LARSEN-TOUBRO-LIMITED-6491923/noticias/Indian-Oil-LTy-ReNew-formar-n-una-JV-para-el-desarrollo-del- green-hydrogen-business-39957821/

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