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Indian Oil follows billionaires Ambani, Adani in green hydrogen bet

Green hydrogen, produced from water and green electricity and considered the cleanest form of fuel, is a potential path to decarbonize heavy industries

Indian Oil Corp
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A logo of Indian Oil is picture outside a fuel station in New Delhi | Photo: Reuters

Debjit Chakraborty | Bloomberg
Indian Oil Corp. Ltd., the country’s biggest oil refiner and a large user of hydrogen, will partner with top renewable energy producer ReNew Power and Larsen & Toubro Ltd. to produce green hydrogen that’s fast gaining momentum in the South Asian nation’s clean push.
 
The three companies have signed a binding term sheet to jointly develop green hydrogen projects, while the state-run refiner and the engineering major will form a separate partnership for making electrolyzers for green hydrogen, according to a joint statement from the three firms. The partnership will focus on green hydrogen projects at Indian Oil’s Mathura and

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