Posted inProjects & Tenders

L&T, ReNew partner to focus on green hydrogen business

It is also expected to provide a green alternative for “hard-to-abate” industries

by Staff Writer

Larsen & Toubro (L&T) and ReNew Power have partnered to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India.
SN Subrahmanyan, CEO & MD of Larsen & Toubro said: “This partnership is synergistic and 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. We believe that green hydrogen is a promising alternate fuel and an important lever for achieving a cleaner future.”
“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,” ReNew’s chairman & CEO Sumant Sinha said.
“Combined with our expertise in the EPC space, I am confident that this partnership will contribute to a sustainable and eco-friendly profitable growth.” Subramanian Sarma, whole-time director & sr. executive VP (energy), Larsen & Toubro said.
Green hydrogen produced by splitting water into hydrogen and oxygen in an electrolyzer by using renewable-powered electricity can enable the world to meet its net zero emissions targets. Many countries, including India (through its National Hydrogen Mission), have announced specific policy interventions to push for the widespread adoption of green hydrogen.
For countries like India, with its ever-increasing energy import bill, it 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.
It is anticipated that green hydrogen demand in India for applications such as refineries, fertilizers and city gas grids will grow up to 2MMTPA by 2030 in line with the nation’s green hydrogen mission. This would call for investments upward of $60 billion.