L&T to establish India’s largest Green Hydrogen plant; stock gains

Shares of Larsen & Toubro Ltd. rose on Monday, July 21, after India’s largest infrastructure conglomerate’s green energy solutions arm announced that it would set up India’s largest green hydrogen plant at Indian Oil Corporation Ltd’s (IOCL) Panipat Refinery in Haryana.In an exchange filing, the company said that this will be done on an build-own-operate (BOO) basis, and will supply 10,000 tonnes of green hydrogen annually to Indian Oil for 25 years.
This project will look to aid sustainability and decarbonise Indian Oil Corporation’s refining operations and contribute to India’s net-zero ambitions.

The company added that it will produce green hydrogen using high-pressure alkaline electrolysers manufactured at L&T Electrolysers Ltd.’s facility in Hazira, Gujarat.

“The decision to set up India’s maiden green hydrogen plant validates our strategy to lead the nation’s energy transition. This long-term project not only deepens our partnership with IOCL but also reinforces our capability to deliver large-scale clean energy solutions. As a first mover in India’s green hydrogen space, we are proud to lay the foundation for cleaner industrial processes at scale.”, said Subramaniam Sarma, Deputy Managing Director & President, L&T.Earlier this year, in March, the company had bagged a deal by inking a Memorandum of Understanding (MoU) with John Cockerill Energy to explore technologies in concentrated solar power and thermal energy storage. This deal focused on identifying and developing strategic collaboration opportunities in manufacturing, component supply, and engineering solutions.Read More: L&T arm inks MoU with Cockerill Energy to explore specific green power technologiesShares of L&T are trading 0.5% higher on Monday at ₹3,484. The stock is down 2.6% in the last one month. The stock is down 5% so far in 2025.(Edited by : Hormaz Fatakia)

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