In a bid to enable India’s decarbonisation push, Indian Oil, L&T and ReNew Power announced the signing of a binding term sheet for the formation of a JV to develop the nascent green hydrogen sector in India. The tripartite venture is a synergistic alliance that brings together the strong credentials of L&T in designing, executing, and delivering EPC projects, IndianOil’s established expertise in petroleum refining along with its presence across the energy spectrum, and the expertise of ReNew.