Biznextindia : Engineering conglomerate Larsen & Toubro (L&T) and ReNew Power (ReNew) India’s leading renewable energy company, today announced a partnership agreement to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India.
“This partnership with ReNew is a significant milestone in the journey towards building a green energy portfolio for L&T. It is synergistic and brings together the impeccable track record of L&T in designing, executing, and delivering EPC projects and the expertise of ReNew in developing utility-scale renewable energy projects. We believe that green hydrogen is a promising alternate fuel and an important lever for achieving a cleaner future. L&T is extremely keen to add value in this space beyond the traditional EPC approach and is looking forward to working with ReNew” S N Subrahmanyan, CEO & MD of Larsen & Toubro said.
“We are delighted to be partnering with L&T for the green hydrogen business. Green hydrogen will be a key driver of the transition to cleaner sources of energy and this partnership between ReNew and L&T, will allow both companies to pool their knowledge, expertise and resources to take maximum advantage of this transition. I expect this partnership to set new benchmarks in the Indian renewable energy space and took forward to working together with L&T,” ReNew’s Chairman & CEO Sumant Sinha said, in a media statement.
Green hydrogen produced by splitting water into hydrogen and oxygen in an electrolyzer 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.