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.
