L&T partners with HydrogenPro to manufacture hydrogen electrolyzers in India
L&T and HydrogenPro will jointly develop gigawatt-scale alkaline water electrolysers in India as demand for green hydrogen is estimated to reach 2 million metric tons per annum by 2030.
Larsen & Toubro (L&T) has inked a Memorandum of Understanding (MoU) with Norway-based electrolyser manufacturer HydrogenPro for the joint development of gigawatt-scale alkaline water electrolysers in India.
“This will be a win-win partnership due to our extensive relationship in the energy sector and our on-going collaboration across multiple companies, along with HydrogenPro’s concern for maintaining technological leadership,” said L&T’s CEO and managing director S N Subrahmanyan.
According to the release, the proposed India joint venture is in line with both L&T’s strategy of being present across the green energy value chain and HydrogenPro’s goal of positioning itself as a global manufacturing leader while ensuring cost leadership and local presence.
Commenting on the partnership, Elling Nygaard, CEO, HydrogenPro said, “We are excited about this MoU with L&T, which will enable us to expand our presence in India, a vast market for hydrogen-based solutions with enormous potential.”
According to the release, India’s green hydrogen demand is expected to grow by nearly 2 two million metric tons by 2030 as part of its Green Hydrogen Mission, which would require investments of at least $60 billion.
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