L&T signs pact with French firm McPhy Energy to explore green hydrogen market – ET Auto
New Delhi: Larsen & Toubro (L&T) has entered into a pact with French firm McPhy Energy for a long-term partnership to explore opportunities in the emerging green hydrogen market. Green hydrogen is the hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen.
Under this partnership, McPhy will grant an exclusive licence of its pressurised alkaline electrolyzer technology to L&T for manufacturing of electrolyzers, including future product upgrades.
L&T plans to set up a gigawatt-scale manufacturing facility for electrolyzers based on McPhy technology in India to serve the domestic requirements as well as cater to the other select geographies, the engineering and construction conglomerate said in a statement.
“The energy industry is undergoing a tectonic shift with green hydrogen emerging as a key fuel in the future energy basket,” Subramanian Sarma, Whole Time Director (Energy), L&T said.