L&T Wins Indian Oil Corp. Tender for Green Hydrogen Plant in Panipat
Key Ideas
- L&T Energy GreenTech secures the project for a 10,000-tonne green hydrogen plant at Indian Oil Corp.'s Panipat refinery in Haryana.
- The competitive bid of INR 397/kg beats out competitors like NTPC Renewable Energy and ReNew, showcasing cost-efficiency.
- The plant will operate on a build-own-operate basis to supply green hydrogen continuously using water electrolysis powered by renewable energy sources.
- After facing two cancellations, the tender finally attracted five bids in its third issue, indicating growing interest in green hydrogen production.
Larsen & Toubro's arm, L&T Energy GreenTech, has successfully secured a significant project to establish a green hydrogen production plant with a capacity of 10,000 tonnes per annum at Indian Oil Corp.'s Panipat refinery in Haryana, India. Winning the tender at a competitive bid of INR 397/kg, L&T outperformed NTPC Renewable Energy and ReNew, who bid at INR 398/kg and INR 407/kg respectively. The planned plant will be set up on a build-own-operate basis to ensure a steady supply of green hydrogen at the mentioned cost. This green hydrogen production will rely on continuous water electrolysis powered by renewable energy sources. Despite initial challenges that led to two cancellations of the tender, the latest round managed to attract five bids, indicating a growing industry interest in green hydrogen production and sustainable energy solutions.