NewsCorporate ActionsL&T to Establish India's Largest Green Hydrogen Plant at IOCL Panipat RefineryL&T to Establish India's Largest Green Hydrogen Plant at IOCL Panipat Refinery
By ScanX News Team
Larsen & Toubro's green energy arm, LTEG, plans to establish India's largest green hydrogen plant at IOCL's Panipat Refinery. The facility will supply 10,000 tonnes of green hydrogen annually for 25 years, supporting IOCL's decarbonization efforts. The project aligns with India's National Green Hydrogen Mission and will use L&T's indigenously manufactured electrolysers. L&T shares saw a 0.50% increase following the announcement.
*this image is generated using AI for illustrative purposes only.
Larsen & Toubro (L&T), one of India's leading engineering and construction conglomerates, is set to make a significant leap in the country's green energy sector. The company's green energy solutions arm, L&T Energy GreenTech Ltd (LTEG), has announced plans to establish India's largest green hydrogen plant at Indian Oil Corporation Ltd's (IOCL) Panipat Refinery in Haryana.
Project Details
- The facility will be developed on a build-own-operate (BOO) basis.
- It will supply 10,000 tonnes of green hydrogen annually to IOCL for 25 years.
- The project aims to support sustainability and decarbonize IOCL's refining operations.
- L&T will produce green hydrogen using high-pressure alkaline electrolysers manufactured at its Hazira, Gujarat facility.
Strategic Importance
This landmark project aligns with the Government of India's National Green Hydrogen Mission and marks a significant milestone in the country's energy transition. The plant will operate around the clock using renewable energy, contributing to IOCL's broader strategy to decarbonize its refining operations and support India's net-zero ambitions.
Market Impact
Following the announcement, L&T shares saw a modest increase of 0.50%. However, it's worth noting that the stock has experienced a 2.60% decline over the past month and is down 5.00% year-to-date.
Leadership Perspectives
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."
Broader Implications
The initiative positions LTEG as a pioneer in India's green hydrogen ecosystem, setting a precedent for industrial-scale adoption across refineries, fertilizer plants, and other hard-to-abate sectors. It also supports India's Aatmanirbhar Bharat (self-reliant India) mission by deploying indigenously manufactured electrolysers, which are central to self-reliant clean-tech solutions and long-term decarbonization goals.
This project not only reinforces L&T's position as a first mover in India's green hydrogen space but also deepens its partnership with IOCL, potentially paving the way for future collaborations in sustainable energy solutions.
Historical Stock Returns for Larsen & Toubro
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.10% | +0.20% | -2.26% | -1.08% | -4.07% | +273.41% |
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