L&T Energy GreenTech to Build India's Largest Green Hydrogen Plant for IOCL

1 min read     Updated on 21 Jul 2025, 10:03 AM
scanxBy ScanX News Team
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Overview

L&T Energy GreenTech Ltd (LTEG), a subsidiary of Larsen & Toubro, will establish India's largest green hydrogen plant at IOCL's Panipat Refinery. The plant will supply 10,000 tonnes of green hydrogen annually for 25 years, operating 24/7 using renewable energy and high-pressure alkaline electrolysers. This project aligns with India's National Green Hydrogen Mission and IOCL's decarbonization strategy, setting a precedent for industrial-scale adoption of green hydrogen across various sectors.

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*this image is generated using AI for illustrative purposes only.

Larsen & Toubro (L&T), one of India's leading engineering and construction conglomerates, has announced a groundbreaking development in the country's green energy sector. L&T Energy GreenTech Ltd (LTEG), a wholly-owned subsidiary of L&T, is set to establish India's largest green hydrogen plant at Indian Oil Corporation Ltd's (IOCL) Panipat Refinery in Haryana.

Project Details

  • The plant will be developed on a build-own-operate (BOO) basis.
  • It will supply 10,000 tonnes of green hydrogen annually to IOCL.
  • The agreement spans 25 years, supporting India's National Green Hydrogen Mission.
  • The facility will operate 24/7 using renewable energy.
  • High-pressure alkaline electrolysers, manufactured at L&T Electrolysers Ltd's facility in Hazira, Gujarat, will be used for green hydrogen production.

Strategic Importance

This initiative marks a significant milestone in India's energy transition and reinforces L&T's position as a leader in delivering sustainable, clean energy infrastructure. The project aligns with IOCL's strategy to decarbonise its refining operations and contribute to India's net-zero ambitions.

Industry Impact

LTEG's pioneering role in this project sets a precedent for industrial-scale adoption of green hydrogen across various sectors, including refineries, fertiliser plants, and other hard-to-abate industries. This development is expected to have far-reaching implications for India's clean energy landscape.

Leadership Statements

Mr. Subramaniam Sarma, Deputy Managing Director & President of L&T, commented on the project: "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."

Mr. Derek Shah, Head of Green Manufacturing & Development at L&T, added: "This project reflects our end-to-end green energy capabilities — from electrolyser manufacturing to execution and operation. With cutting-edge technology and a skilled team, we are confident of delivering a high-performance, zero-emission plant that sets new industry benchmarks."

Supporting India's Self-Reliance

The initiative also supports India's Aatmanirbhar Bharat (Self-Reliant India) mission by deploying indigenously manufactured electrolysers. This approach is crucial for developing self-reliant clean-tech solutions and achieving long-term decarbonisation goals.

As India continues its push towards sustainable energy solutions, this project by L&T Energy GreenTech stands as a testament to the country's commitment to green hydrogen and its potential to revolutionize the energy sector.

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L&T Chairman's Remuneration Surges 50% to Rs 76.25 Crore Amid Work Week Controversy

1 min read     Updated on 17 Jul 2025, 10:26 PM
scanxBy ScanX News Team
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Overview

Larsen & Toubro (L&T) Chairman S N Subrahmanyan's remuneration increased by nearly 50% to Rs 76.25 crore, primarily due to stock options. This comes after his controversial advocacy for a 90-hour work week. L&T also announced plans for a Q1 FY26 Earnings Conference Call on July 29, 2025, to be held virtually.

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*this image is generated using AI for illustrative purposes only.

Larsen & Toubro (L&T), one of India's leading engineering and construction conglomerates, has recently made headlines due to a significant increase in its Chairman's remuneration and upcoming investor communications.

Chairman's Compensation Spike

L&T Chairman S N Subrahmanyan has seen his remuneration package swell by nearly 50% to Rs 76.25 crore. This substantial increase is primarily attributed to the exercise of stock options, as per recent reports. The rise in compensation comes at a time when Subrahmanyan's recent comments advocating for a 90-hour work week have stirred controversy in the corporate world.

Remuneration Breakdown

While the exact breakdown of the chairman's compensation package has not been disclosed, the significant jump from the previous year's figures has caught the attention of industry observers. The use of stock options as a major component of executive compensation is a common practice among large corporations to align leadership interests with company performance and shareholder value.

Work Week Controversy

The timing of this remuneration increase is particularly notable as it follows Subrahmanyan's controversial remarks supporting an extended 90-hour work week. These comments have sparked debates about work-life balance, employee well-being, and productivity in the Indian corporate sector. The juxtaposition of increased executive pay alongside advocacy for longer working hours for employees has raised questions about equity and corporate responsibility.

Upcoming Investor Communication

In a separate development, L&T has announced its plans for upcoming investor communications. According to the company's latest LODR (Listing Obligations and Disclosure Requirements) filing:

  • L&T will host a Q1 FY26 Earnings Conference Call on July 29, 2025.
  • The meeting will be conducted virtually, classified as a group meet.

This announcement demonstrates L&T's commitment to maintaining transparent communication with its investors and analysts, providing insights into the company's financial performance for the first quarter of the fiscal year 2026.

Conclusion

The significant increase in L&T Chairman S N Subrahmanyan's remuneration package to Rs 76.25 crore, primarily through stock options, has drawn attention, especially in light of his recent controversial statements about extended work hours. As the company prepares for its upcoming earnings call, stakeholders will likely be keen to understand more about L&T's performance, leadership compensation policies, and overall corporate strategy in the evolving business landscape.

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