IndianOil LT and ReNew announce JV to produce green hydrogen

9 Apr 2022 , 01:35 AM

Indian Oil Corporation Larsen Toubro and ReNew Power announced signing of binding term sheet for the formation of a Joint Venture JV company to develop the nascent green hydrogen sector in India The tripartite venture is a synergistic alliance that brings together the strong credentials of LT in designing executing and delivering EPC projects IndianOils 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 Additionally IndianOil and LT 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