Indian companies Larsen & Toubro (L&T) and ReNew Power have partnered to tap the country’s emerging green hydrogen market.
Green hydrogen, which is produced by splitting water into hydrogen and oxygen in an electrolyzer by using renewable-powered electricity, is increasingly being viewed as a solution to reach net-zero emissions targets. Numerous countries have announced plans to push for the widespread adoption of this emerging green energy source.
Green hydrogen demand in India for applications such as refineries, fertilizers and city gas grids is expected to grow up to 2 metric tonnes per annum by 2030, calling for investments upward of $60 billion. L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects throughout the country.
“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,” said