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L&T, IOC and ReNew Power to form JV for development of Green Hydrogen Business

04 Apr 2022 Evaluate

In a bid to enable India’s decarbonization push, Larsen & Toubro (L&T), Indian Oil Corporation (IOC) and ReNew Power have signed 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 L&T in designing, executing, and delivering EPC projects, IOC'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. Additionally, IOC 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.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.

Larsen & Toubro Share Price

3973.60 -48.90 (-1.22%)
08-May-2026 16:59 View Price Chart
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Company Name CMP
Larsen & Toubro 3973.60
Rail Vikas Nigam 305.00
NCC 169.85
KEC International 598.10
Kalpataru Projects 1274.45
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