<p>In a bid to enable India’s decarbonization push, Indian Oil Corporation Ltd, Larsen & Toubro and ReNew Power have announced signing of a binding term sheet for the formation of a Joint Venture company to develop the nascent green hydrogen sector in India. The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and delivering EPC projects, IndianOil's 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.</p><p>Additionally, IndianOil and L&T 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.</p><p>The Indian government in February notified the Green Hydrogen policy aimed at boosting the production of green hydrogen and green ammonia to help the nation become a global hub for the environmentally friendly version of the element.</p>
<p>In a bid to enable India’s decarbonization push, Indian Oil Corporation Ltd, Larsen & Toubro and ReNew Power have announced signing of a binding term sheet for the formation of a Joint Venture company to develop the nascent green hydrogen sector in India. The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and delivering EPC projects, IndianOil's 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.</p><p>Additionally, IndianOil and L&T 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.</p><p>The Indian government in February notified the Green Hydrogen policy aimed at boosting the production of green hydrogen and green ammonia to help the nation become a global hub for the environmentally friendly version of the element.</p>
