L&T in JVs with IOC, ReNew for green hydrogen - Times of India

L&T in JVs with IOC, ReNew for green hydrogen – Times of India

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MUMBAI: Engineering-to-software services conglomerate Larsen & Toubro (L&T) has inked two separate joint ventures for its green hydrogen play.
It has formed an equal partnership with PSU refiner Indian Oil and leading renewable energy player ReNew Power to produce green hydrogen. Green hydrogen is produced by the electrolysis of water using renewable energy such as solar and wind. L&T has also established a separate joint venture with Indian Oil to manufacture and sell electrolysers used in the production of green hydrogen.
The Mumbai-based conglomerate sees $2 billion worth of business opportunity from green hydrogen in two years, it had said last December, while announcing plans with ReNew Power to develop the nascent green hydrogen sector in India. It has now roped in Indian Oil too for the project.
The tripartite partnership will focus on green hydrogen projects at Indian Oil’s refineries in Mathura and Panipat, while other such projects will also be evaluated across the country at the same time.
“While the usage of hydrogen in the mobility sector will take its time, the refineries will be the pivot around which India’s green hydrogen revolution will materialise in a substantial way,” said Indian Oil chairman Shrikant Madhav Vaidya.



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