- 03 Dec 2021
- ICICIdirect Research
L&T and ReNew Power announce partnership agreement to tap the emerging green hydrogen businesLT - 2212 Change: -12.55 (-0.56 %)
News: L&T and ReNew Power announce partnership agreement to tap the emerging green hydrogen business in India. Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India.
Views: The partnership brings together the impeccable track record of L&T in designing, executing, and delivering EPC projects and the expertise of ReNew in developing utility-scale renewable energy project. The two companies to tap $2 bn green hydrogen business opportunities in two years in India and the neighbouring countries. L&T is focusing on technology and innovation for diversified and sustainable growth. Going forward, we expect strong order book to enhance its revenue visibility in medium term. Consequently, we expect standalone revenue, EBITDA CAGR of 12.1%, 12% over FY21-FY23E.