Larsen & Toubro Ltd. (L&T) and ReNew Power, a renewable energy company (promoted by Sumant Sinha), have entered into 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 the country and in other countries.
“It is anticipated that green hydrogen demand in India for applications such as refineries, fertilizers and city gas grids will grow up to 2 mmtpa by 2030 in line with the nation’s green hydrogen mission. This would call for investments upward of $60 billion,” both firms said in a joint statement.
It’s mind boggling how almost everyone including Reliance, Adani, JSW, Tatas and others are jumping into the renewable bandwagon. It’s very difficult to comment on who will succeed and to what extent.
Personally for me , it’s most confusing than ever !