L&T, ReNew and IOCL to invest funds for green hydrogen projects

Larsen & Toubro Limited (L&T) in collaboration with ReNew and Indian Oil Corporation Limited (IOCL) announced to invest Rs 320 billion for the green hydrogen projects. According to the notification, the main focus is on electrolysers, green hydrogen plants, and floating green ammonia projects. The company will pay for this through internal accruals. It also plans to invest around Rs 5 billion for manufacturing electrolysers. The company is in discussions with the state governments for more land to be built near the port to transport green hydrogen and ammonia.