Billionaires in the country have already been leaning toward the opportunity from H2.
The largest oil refiner in India, the Indian Oil Corp. Ltd., and a large H2 user have entered into a partnership for producing renewable hydrogen with clean energy company ReNew Power and Larsen & Toubro Ltd.
The companies are aiming to become a key player in the South Asian country’s rapidly growing market.
The three companies have already signed a binding term sheet to collaborate in developing renewable hydrogen products. At the same time, the state-run oil refiner and the engineering giant will work together separately from the collaboration for the production of electrolyzers that will split water to produce the H2. This, according to a statement released jointly by the three firms.
The partnership will concentrate on green H2 projects at the Mathura and Panipat refineries Indian Oil owns in…
Renewable hydrogen projects receive investments from Leading Indian oil refiners
