What are the plans of IOC and L&T in green energy?
Answer
Answer
It is going to be a 3-way deal. IOCL, L&T and ReNew Power will form a joint venture (JV) to develop green hydrogen in India. Incidentally, this is where RIL and Adani group are already investing quite heavily. While L&T will bring in the EPC credentials, IOC brings its insights into chemical processes and refining. The third partner, ReNew Power will bring in the renewable energy expertise. They also plan to manufacture and sell electrolysers.