L&T partners ReNew to tap into green hydrogen biz
Larsen & Toubro (L&T) has entered into an agreement with ReNew Power to tap into the emerging green hydrogen business in India. Under this agreement, both companies will jointly develop, own, execute and operate green hydrogen projects in India.
Green hydrogen, produced by splitting water into hydrogen and oxygen in an electrolyser by using renewable-powered electricity, can enable the world to meet its net zero emissions targets. Many countries, including India (through its National Hydrogen Mission), have announced specific policy interventions to push for the widespread adoption of green hydrogen. For countries like India, with its ever-increasing energy import bill, it can also provide energy security by reducing the overall dependence on fossil fuels.
Commenting on the partnership, SN Subrahmanyan, CEO & MD of Larsen & Toubro, said: “This partnership with ReNew is a significant milestone in the journey towards building a green energy portfolio for L&T.
