L&T Partners with Norwegian Firm to make Green H2 Electrolysers in India

Hydrogen Project HyNCREASE in Germany Qualifies for European Grant

Mumbai-based multinational conglomerate Larsen & Toubro (L&T) has signed a Memorandum of Understanding (MoU) with HydrogenPro, a Norwegian electrolyser technology and manufacturing company, for a partnership to tap the emerging green hydrogen market in India.

Under this agreement, L&T and HydrogenPro will jointly work towards setting up a joint venture in India for gigawatt-scale manufacturing of Alkaline Water Electrolysers based on HydrogenPro technology for the Indian market and other select geographies.

Commenting on the occasion, Mr. S N Subrahmanyan, CEO & MD, L&T said, “The energy industry is undergoing a tectonic shift with Green Hydrogen emerging as a key fuel in the future energy basket. We are delighted to have signed this MoUwith HydrogenPro. This will be a win-win partnership given our extensive relationship across the energy industry, deep EPC experience in this sector and successful ongoing collaborations with many MNCs and HydrogenPro’s focus to stay ahead of the curve as far as technology leadership is concerned”.

“We’re extremely pleased to enter this Memorandum of Understanding with L&T, an E&C powerhouse which is the perfect partner to establish HydrogenPro in the Indian market, a huge and growing energy market with tremendous potential for hydrogen-based solutions,” said Mr. Elling Nygaard, CEO of HydrogenPro.

“We are looking forward to this exciting journey and make this partnership work for creating sustainable infrastructure for the future. The Green Hydrogen industry is at a nascent stage with an immense potential to offer great opportunities. This partnership is a right step in creating clean, green and sustainable future,” said Mr. Subramanian Sarma, Whole Time Director (Energy), L&T.

India has made a large expansion plan for renewable energy transition, with a target of 175GW of renewables by 2022 and 500 GW by 2030. The country is well suited for green hydrogen production due to low generation costs of renewable electricity from abundantly available solar PV and wind power sources.

Green hydrogen demand in India is estimated to grow up to 2 MMTPA by 2030 in line with the nation’s Green Hydrogen Mission, which would call for investments upward of $60 billion, says L&T.