Larsen & Toubro (L&T) and ReNew Power (ReNew) announced a partnership agreement 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, the statement said.
Commenting on this partnership, S N Subrahmanyan, CEO & MD of Larsen & Toubro said: “This partnership with ReNew is a significant milestone in the journey towards building a green energy portfolio for L&T. It 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. L&T is extremely keen to add value in this space beyond the traditional EPC approach and is looking forward to working with ReNew.”
“We are delighted to be partnering with L&T for the green hydrogen business. 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 took forward to working together with L&T,” ReNew’s Chairman & CEO Sumant Sinha said, in a media statement.
“We are pleased to begin our journey with ReNew. This partnership awill strategically place L&T and ReNew in a position to offer green hydrogen solutions to the industry. 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. 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 &t Sr. Executive Vice President (Energy), Larsen & Toubro said on this occasion.
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