A three way partnership of Indian Oil Corporation, L&T and ReNew to concentrate on green hydrogen projects has been integrated with the three companions investing ₹1 crore every in its authorised capital.
The JV firm GH4India Private Ltd., integrated on August 25, has been shaped for the aim of improvement of green hydrogen and its derivatives, together with green ammonia and methanol, apart from manufacturing belongings and related renewable belongings by any mannequin of possession and operatorship, IOC and L&T mentioned in separate filings on Saturday.
In April 2022, the three corporations had signed a binding time period sheet for formation of the JV firm to develop the nascent green hydrogen sector within the nation by tapping into the experience of L&T in designing, executing and delivering EPC projects, that of Indian Oil in petroleum refining and ReNew’s experience in providing and creating utility-scale renewable power options.
