L&T, ReNew Power partner on green hydrogen business
EPC contractor Larsen & Toubro has partnered with renewable energy developer ReNew Power to develop end-to-end competitive solutions in green hydrogen.
EPC contractor Larsen & Toubro and renewable energy developer ReNew Power have partnered to tap the emerging green hydrogen business in India. Under the partnership agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India.
This partnership brings together the impeccable track record of L&T in designing, executing, and delivering EPC projects and the expertise of ReNew in developing utility-scale renewable energy projects, said S.N. Subrahmanyan, CEO and MD of Larsen & Toubro.
“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. L&T is extremely keen to add value in this space beyond the traditional EPC approach and is looking forward to working with ReNew.”
“Green hydrogen will be a key driver of the transition to cleaner sources of energy and this partnership between ReNew and L&T, 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 and look forward to working together with L&T,” ReNew’s chairman & CEO Sumant Sinha said in a media statement.
Green hydrogen is produced by splitting water into hydrogen and oxygen in an electrolyzer by using renewable-powered electricity.
“We are already looking at some interesting opportunities in the Indian market for green hydrogen and we intend to capitalize on them by developing end-to-end competitive solutions. In that effort, we are excited to secure a partnership with ReNew who brings its renewable energy development expertise to the table,” said Subramanian Sarma, whole-time director and senior executive vice president (energy), Larsen & Toubro.