State-owned refiner IOC, engineering and construction giant Larsen & Toubro and renewable energy company ReNew Power on Monday came together to form a joint venture to develop a green hydrogen business.
IOC and L&T have additionally signed a pact to form a joint venture with equity participation to manufacture and sell electrolysers used in the production of green hydrogen.
“The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and delivering EPC projects, IOC’s established expertise in petroleum refining along with its presence across the energy spectrum, and the expertise of ReNew in offering and developing utility-scale renewable energy solutions,” the firms said in a statement.
