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Thursday, December 2, 2021

L&T, ReNew announce partnership for green hydrogen projects in India - Moneycontrol.com

Under the agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India

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Engineering conglomerate Larsen & Toubro on December 2 announced that it will jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power.

"Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India," a joint statement said.

Commenting on this partnership, SN 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."

Subrahmanyan said 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," he added.

ReNew’s Chairman & CEO Sumant Sinha said that green hydrogen will be a key driver of the transition to cleaner sources of energy and the 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 and look forward to working together with L&T," Sinha added.

"L&T, with its deep expertise and experience in engineering and construction of projects, and ReNew, with its experience in the development of renewable energy projects, are market leaders in their respective sectors and this synergistic partnership is committed to tapping this emerging opportunity," the joint statement said.

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L&T, ReNew announce partnership for green hydrogen projects in India - Moneycontrol.com
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