Continuing India’s decarbonization push, Indian Oil Corporation Ltd., (IndianOil), the country’s top refiner and fuel retailer, Larsen & Toubro (L&T), India’s premier engineering & construction conglomerate, and ReNew Power (“ReNew”), India’s leading renewable energy company, announced the signing of a binding term sheet for the formation of a Joint Venture (JV) company to develop the nascent green hydrogen sector in India.