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.
| 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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