RENEWABLE ENERGY

ReNew, L&T announce partnership for green hydrogen business in India

ReNew Power and Larsen & Toubro (L&T) on Thursday announced a partnership agreement to jointly develop, own, execute and operate green hydrogen projects in India.

“This partnership will allow both companies to pool their knowledge, expertise and resources to take maximum advantage of this transition. I expect this partnership to set new benchmarks in the Indian renewable energy space,” said Sumant Sinha, chairman and CEO, ReNew Power in a press release.

Green hydrogen is produced by splitting water into hydrogen and oxygen in an electrolyser by using renewable-powered electricity. Many countries, including India, have announced specific policy interventions to push for the widespread adoption of green hydrogen.

“This partnership with ReNew is a significant milestone in the journey towards building a green energy portfolio for L&T… We believe that green hydrogen is a promising alternate fuel and an important lever for achieving a cleaner future,” said S N Subrahmanyan, chief executive officer and managing director, L&T.

The release added that for countries such as India, with its ever-increasing energy import bill, green hydrogen can also provide energy security by reducing the overall dependence on fossil fuels. It is also expected to provide a green alternative for ‘hard-to-abate’ industries, like refineries, fertilizers, steel and transport.

“We are already looking at some interesting opportunities in the Indian market for green hydrogen and we intend to capitalise on them by developing end-to-end competitive solutions,” said Subramanian Sarma, whole-time director and senior executive vice-president (energy), L&T.

Source
ET Energy World
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