India’s top refiner and fuel retailer Indian Oil Corporation (IndianOil) is collaborating with engineering and construction major Larsen & Toubro and renewable energy company ReNew to develop the country’s green hydrogen sector.
The three companies will hold an equal stake in a proposed joint venture to develop the nascent sector and support India's decarbonisation efforts, state-owned IndianOil said in a statement on Monday.
The partnership will initially focus on green hydrogen projects at IndianOil’s Mathura and Panipat refineries, while also evaluating other projects in the country, the company's chairman Shrikant Vaidya said.
“IndianOil is forging this alliance to realise India’s green hydrogen aspirations,” he said.
India's hydrogen strategy is part of its plan to develop alternative sources of energy to move away from its costly dependence on fossil fuel imports and reduce its carbon output.
Under the Paris climate change agreement, India, which is the world’s third-largest carbon emitter, has pledged to reduce its emissions intensity to between 33 per cent and 35 per cent by 2030, from 2005 levels.
State-owned and private energy companies are showing interest in hydrogen production.
In the private sector, Reliance Industries, controlled by India’s richest man Mukesh Ambani, and conglomerate Adani Group are adding green hydrogen projects to their portfolio.
In January, Mr Ambani announced plans to invest about $75 billion in renewables infrastructure, which could transform India into a clean-hydrogen leader in line with Prime Minister Narendra Modi’s mission.
The IndianOil JV’s initial efforts will include using hydrogen mainly in the refining, steel and fertiliser sectors, the company said.
The country’s refining sector consumes approximately 2 million metric tonnes of grey hydrogen every year, with IndianOil owning one of the largest shares of its refining output.
“We consider this partnership as a significant step in India’s quest for alternative energy. The JV will focus on developing green hydrogen projects in a time-bound manner to supply green hydrogen at an industrial scale,” said S N Subrahmanyan, chief executive and managing director of L&T.
IndianOil and L&T also signed a binding term sheet to form a JV with equity participation to manufacture and sell electrolysers used in the production of green hydrogen.
An electrolyser splits water into hydrogen and oxygen using renewable energy such as solar or wind for producing green hydrogen.
The planned JVs will enable India’s transition from a grey hydrogen economy to a greener economy that increasingly manufactures hydrogen through electrolysis powered by renewable energy, the statement said.
Globally, the hydrogen industry is expected to be valued at $183bn by 2023, from $129bn in 2017, according to Fitch Solutions. French investment bank Natixis estimates that investments in hydrogen will exceed $300bn by 2030.
Oil-exporting countries in the Middle East such as Saudi Arabia and the UAE plan to tap into hydrogen and produce the clean, alternative fuel for exports in the future.
MATCH INFO
Day 1 at Mount Maunganui
England 241-4
Denly 74, Stokes 67 not out, De Grandhomme 2-28
New Zealand
Yet to bat
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
AndhaDhun
Director: Sriram Raghavan
Producer: Matchbox Pictures, Viacom18
Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan
Rating: 3.5/5
Results
5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud
6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel
6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel
7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
Killing of Qassem Suleimani
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
More from our neighbourhood series:
Is it worth it? We put cheesecake frap to the test.
The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?
My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.
The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.
So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
'I Want You Back'
Director:Jason Orley
Stars:Jenny Slate, Charlie Day
Rating:4/5
World%20Cup%202023%20ticket%20sales
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Takreem Awards winners 2021
Corporate Leadership: Carl Bistany (Lebanon)
Cultural Excellence: Hoor Al Qasimi (UAE)
Environmental Development and Sustainability: Bkerzay (Lebanon)
Environmental Development and Sustainability: Raya Ani (Iraq)
Humanitarian and Civic Services: Women’s Programs Association (Lebanon)
Humanitarian and Civic Services: Osamah Al Thini (Libya)
Excellence in Education: World Innovation Summit for Education (WISE) (Qatar)
Outstanding Arab Woman: Balghis Badri (Sudan)
Scientific and Technological Achievement: Mohamed Slim Alouini (KSA)
Young Entrepreneur: Omar Itani (Lebanon)
Lifetime Achievement: Suad Al Amiry (Palestine)
COMPANY%20PROFILE
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