A joint venture of Indian Oil Corporation, L&T and ReNew to focus on green hydrogen projects has been incorporated with the three partners investing ₹1 crore each in its authorised capital.
The JV company GH4India Private Ltd., incorporated on August 25, has been formed for the purpose of development of green hydrogen and its derivatives, including green ammonia and methanol, besides production assets and associated renewable assets through any model of ownership and operatorship, IOC and L&T said in separate filings on Saturday.
In April 2022, the three companies had signed a binding term sheet for formation of the JV company to develop the nascent green hydrogen sector in the country by tapping into the expertise of L&T in designing, executing and delivering EPC projects, that of Indian Oil in petroleum refining and ReNew’s expertise in offering and developing utility-scale renewable energy solutions.
Tags: Green Hydrogen, IOC, ReNew
Recent Posts
Port of Brisbane Unveils Vision 2060 to Drive Smarter, Cleaner, and More Connected Future
Wärtsilä to Deliver Hybrid Propulsion Systems for Vertom Group’s New Low-Emission Vessels
Latvian port receives electric Konecranes Gottwald Mobile Harbor Crane
Sustainable Ocean Economy Vital for Human Development, Says UNDP at UN Ocean Conference
Green Hydrogen Costs in India Could Drop by 40%, Says IEEFA-JMK Report
Cavotec Secures €1.55 Million Shore Power Contract for Port of Antwerp-Bruges
APM Terminals and SANY Marine sign landmark agreement to accelerate decarbonisation
The Port of Gothenburg takes big step towards shore power connection for container and car/RoRo vessels