L&T shares gained after announcing its first and largest green hydrogen plant at IOCL’s Panipat refinery. The 25-year BOO project will supply 10,000 tonnes annually, supporting India’s Green Hydrogen Mission and boosting L&T’s clean energy leadership.
On Monday, July 21, Larsen & Toubro (L&T) share price was trading higher. The company announced that it will be building the nation's first and largest green hydrogen plant in Panipat, Haryana.
Below are details of the order:
L&T Energy GreenTech Ltd (LTEG), a wholly-owned subsidiary of Larsen & Toubro (L&T), announced a significant development in India's energy transition: the establishment of the nation's first and largest green hydrogen plant. This plant will be located at Indian Oil Corporation Ltd's (IOCL) Panipat Refinery in Haryana.
The project is set to operate on a build-own-operate (BOO) basis, with a projected supply of 10,000 tonnes of green hydrogen annually to IOCL for a period of 25 years. This initiative is a direct response to and supports the Government of India's National Green Hydrogen Mission.
The design of the plant ensures continuous operation, 24 hours a day, utilising renewable energy sources. This aligns with IOCL's strategic objectives of decarbonising its refining operations and contributing to India's broader net-zero emissions ambitions. The green hydrogen will be produced using high-pressure alkaline electrolysers, which are manufactured at L&T Electrolysers Ltd's facility in Hazira, Gujarat.
This development represents a crucial milestone in India's shift towards sustainable energy and reinforces L&T's prominent role in delivering sustainable and scalable clean energy infrastructure. LTEG is poised to become a pioneering entity in India's green hydrogen ecosystem, establishing a precedent for industrial-scale adoption across various sectors, including refineries and fertiliser plants.
The establishment of India's inaugural green hydrogen plant confirms the company's strategic commitment to leading the nation's energy transition. This long-term project strengthens the partnership with IOCL and enhances L&T's capacity to deliver large-scale clean energy solutions. The project showcases L&T's comprehensive green energy capabilities, which include electrolyser manufacturing, project execution, and operational management.
This initiative supports India's 'Aatmanirbhar Bharat' (Self-Reliant India) mission by deploying indigenously manufactured electrolysers, which are vital for self-reliant clean-tech solutions and achieving long-term decarbonisation goals.
Larsen & Toubro share price surged by 0.91% on an intraday basis on Monday as the company received a significant order to build India’s first and largest green hydrogen plant. As of 11:13 am IST, Larsen & Toubro is trading at ₹3,483.80, showing an intraday increase of 0.55%.
The stock has delivered decent returns of 6.38% in the last 3 months, while it has gained 275% in the last 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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