L&T and ReNew announce partnership tofocus on the Green Hydrogen business in India.
Larsen & Toubro (L&T), India’s leadingengineering conglomerate, and ReNew Power (ReNew), India’s leading renewableenergy company, have announced a partnership agreement to tap the emerging greenhydrogen business in India. Under this agreement, L&T and ReNew willjointly develop, own, execute, and operate green hydrogen projects in thecountry.
Commenting on this partnership, S NSubrahmanyan, CEO and MD of Larsen & Toubro said, “This partnership withReNew is a significant milestone in the journey towards building a green energyportfolio for L&T. It is synergistic and brings together the impeccabletrack record of L&T in designing, executing, and delivering EPC projectsand the expertise of ReNew in developing utility-scale renewable energyprojects.”
“Green hydrogen will be a key driver of thetransition to cleaner sources of energy, and this partnership between ReNew andL&T will allow both companies to pool their knowledge, expertise, andresources to take maximum advantage of this transition. I expect thispartnership to set new benchmarks in the Indian renewable energy space,” ReNew’sChairman and CEO, Sumant Sinha said, in a media statement.
It is anticipated that green hydrogen demandin India for applications such as refineries, fertilizers and city gas grids willgrow up to 2MMTPA by 2030 in line with the nation’s green hydrogen mission.This would call for investments upward of $60-billion.
“This partnership is synergistic and bringstogether the impeccable track record of L&T in designing, executing, and deliveringEPC projects and the expertise of ReNew in developing utility-scale renewableenergy projects.”
