Green Hydrogen | Joint Venture – ReNew Power, IOCL and L&T

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ReNew Power (NASDAQ: RNW), India’s leading renewable energy company, along with IOCL and L&T have announced signing of binding term sheet for the formation of a Joint Venture (JV) company to develop the nascent green hydrogen sector in India. The planned JVs aim to enable India’s transition from a grey hydrogen economy to a greener economy that increasingly manufactures hydrogen via electrolysis powered by renewable energy. Continue to browse this section to learn more about this news.

“In alignment with the government’s broader strategic climate goals for 2030 and 2070 set by honourable Prime Minister Narendra Modi, ReNew looks forward to working with L&T and IndianOil to build the green hydrogen business in India. ReNew, as a leader in intelligent energy solutions and with advanced capability across renewable energy technologies, is well poised to complement the capabilities of our partners.

The timing for these proposed JVs is excellent as they will help support Government of India’s recently announced green hydrogen policy to boost India Inc.’s decarbonization journey.”

Mr. Sumant Sinha, Chairman and CEO of ReNew Power

MEDIA COVERAGE

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

Date: 3rd April, 2022; Source: ReNew Power Press Release

Indian Oil, L&T, Re New join hands for green hydrogen

Date: 05th April, 2022; Source: Mint Page 3

IOC L&T, ReNew Join Hands for Green Hydrogen Business

Date: 05th April, 2022; Source: The Economic Times, Page 1

Indian Oil, L&T and ReNew sign agreement

Date: 05th April, 2022; Source: Business Standard, Page 2

Indian Oil to form JV with L&T, ReNew to produce green hydrogen, electrolyzer

Date: 05th April, 2022; Source: Millennium Post, Page 9

IOC, L&T, ReNew power form JV to develop green hydrogen sector

Date: 05th April, 2022; Source: The New Indian Express, Page 10

IOC, ReNew, L&T to form JV

Date: 05th April, 2022; Source: The Indian Express, Page 15