Indian Oil, L&T, ReNew to form JV to develop green hydrogen business
OIL & GAS

Indian Oil, L&T, ReNew to form JV to develop green hydrogen business

Indian Oil Corporation Ltd (IndianOil), Larsen and Toubro (L and T), and ReNew Power (ReNew) announced the signing of a binding term sheet for the formation of a Joint Venture (JV) business to grow India's embryonic green hydrogen sector in a bid to support the country's decarbonisation efforts.

The three-way partnership is a synergistic partnership that brings together L&T's strong credentials in EPC project design, execution, and delivery, IndianOil's established expertise in petroleum refining and presence across the energy spectrum, and ReNew's expertise in offering and developing utility-scale renewable energy solutions.

IndianOil and Land T have agreed to form a joint venture with equity involvement to manufacture and market electrolysers used in the production of green hydrogen.

SN Subrahmanyan, CEO and MD of Land T, informed about the joint venture, that India plans to rapidly advance in its decarbonisation efforts, and the production of Green Hydrogen is key in this endeavour. The IndianOil-Land T-ReNew JV will concentrate on establishing Green Hydrogen projects in a timely way to supply Green Hydrogen on a large scale.

In February, the central government announced the Green Hydrogen Policy, which aims to increase green hydrogen and green ammonia production to help the country become a global centre for the ecologically benign version of the element.

Nearly 80% of India's hydrogen is expected to be green by 2050, meaning it will be produced using renewable electricity and electrolysis. By 2030, green hydrogen may be the most cost-effective way to produce hydrogen. This might be fueled by cost reductions in major manufacturing technologies as well as clean energy technologies like solar PV and wind turbines.

Image Source

Indian Oil Corporation Ltd (IndianOil), Larsen and Toubro (L and T), and ReNew Power (ReNew) announced the signing of a binding term sheet for the formation of a Joint Venture (JV) business to grow India's embryonic green hydrogen sector in a bid to support the country's decarbonisation efforts. The three-way partnership is a synergistic partnership that brings together L&T's strong credentials in EPC project design, execution, and delivery, IndianOil's established expertise in petroleum refining and presence across the energy spectrum, and ReNew's expertise in offering and developing utility-scale renewable energy solutions. IndianOil and Land T have agreed to form a joint venture with equity involvement to manufacture and market electrolysers used in the production of green hydrogen. SN Subrahmanyan, CEO and MD of Land T, informed about the joint venture, that India plans to rapidly advance in its decarbonisation efforts, and the production of Green Hydrogen is key in this endeavour. The IndianOil-Land T-ReNew JV will concentrate on establishing Green Hydrogen projects in a timely way to supply Green Hydrogen on a large scale. In February, the central government announced the Green Hydrogen Policy, which aims to increase green hydrogen and green ammonia production to help the country become a global centre for the ecologically benign version of the element. Nearly 80% of India's hydrogen is expected to be green by 2050, meaning it will be produced using renewable electricity and electrolysis. By 2030, green hydrogen may be the most cost-effective way to produce hydrogen. This might be fueled by cost reductions in major manufacturing technologies as well as clean energy technologies like solar PV and wind turbines. Image Source

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?