Green hydrogen a big opportunity as rapid growth expected in 5-10 years: Renew Power

Larsen & Toubro (L&T) has announced a partnership agreement with ReNew Power 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.

Speaking to CNBC-TV18’s Prashant Nair, Sumant Sinha, CMD of ReNew Power said, “We all know that the next big opportunity for cleaning up or greening our economy is going to essentially be green hydrogen because it allows us to get into areas like steel, cement, fertilisers, that use a lot of grey hydrogen, which is very carbon-emitting, and replace that with green hydrogen over time.”

He added, “As we try to start replacing those with green hydrogen there will be rapid growth in the demand for green hydrogen.”

Sinha believes this is going to be a sector that will grow substantially over the next 5 to 10 years.