NEW DELHI: To enable decarbonization push, Indian Oil Corporation Ltd, Larsen & Toubro (L&T), ReNew Power announced signing of a binding term sheet for the formation of a Joint Venture (JV) company to develop the nascent green hydrogen sector in India. Additionally, IndianOil and L&T have signed a binding term sheet to form a JV with equity participation to manufacture and sell Electrolyzers used in the production of Green Hydrogen.
“The IndianOil-L&T-ReNew JV will focus on developing Green Hydrogen projects in a time-bound manner to supply Green Hydrogen at an industrial scale,” said S N Subrahmanyan, CEO & MD of L&T.
