The move is part of an effort to help India cut its carbon emissions
Indian Oil Corp, the country’s top refiner, Larsen & Toubro and Goldman Sachs-backed renewable energy producer ReNew Power will form a joint venture to develop the green hydrogen sector, helping India cut its carbon emissions.
Indian companies, including the country’s richest men Mukesh Ambani and Gautam Adani, had previously announced plans to produce green hydrogen. An electrolyser splits water into hydrogen and oxygen using renewable energy such as solar or wind for producing green hydrogen.
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