Larsen & Toubro (L&T) has signed a pact with Norway-based electrolyzer technology and manufacturer HydrogenPro AS to set up a manufacturing unit in India that aims to tap opportunities in green hydrogen space in the country and other geographies, the Indian engineering major said in a statement on January 27.
As per the memorandum of understanding, L&T and HydrogenPro will jointly work towards setting up of a gigawatt-scale manufacturing unit for alkaline water electrolyzers based on HydrogenPro technology. In December, L&T tied up with Nasdaq-listed ReNew Power to jointly develop, own, execute and operate green hydrogen projects in India.
The planned joint venture in India is a part of L&T’s strategy to expand its presence across the green energy value chain. It will help HydrogenPro establish a global manufacturing footprint to maintain cost leadership and ensure local presence.
“The energy industry is undergoing a tectonic shift with green hydrogen emerging as a key fuel in the future energy basket…This will be a win-win partnership given our extensive relationship across the energy industry, deep EPC (engineering, procurement and construction) 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,” SN Subrahmanyan, chief executive officer and managing director of L&T was quoted as saying in the statement.