Larsen & Toubro (L&T), a major engineering and construction company, has set up a new subsidiary called Panipat Green Hydrogen Pvt Ltd to concentrate on green hydrogen projects. Fitch Ratings has confirmed L&T's long-term ratings at 'BBB+' with a stable outlook. L&T has acquired land in Kandla, Gujarat, indicating its commitment to developing green hydrogen and green ammonia projects. The Indian government's support for green hydrogen is evident through initiatives such as the National Green Hydrogen Mission and pilot projects for its use in transportation. This move aligns with global efforts towards sustainable and clean energy sources, highlighting the growing significance of green hydrogen in the energy transition.