IOC, L&T, ReNew power form joint venture to develop green hydrogen sector

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.