L&T Partners with French Firm Mc Phy Energy for Electrolyzer Production

Green Hydrogen L&T Partners with French Firm Mc Phy Energy for Electrolyzer Production

2023-03-29 Source: Press release Ahlam Rais 2 min Reading Time

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Under an Electrolyzer Manufacturing Binding Agreement signed between both the parties, Mc Phy will grant exclusive license of its pressurized alkaline electrolyzer technology to L&T for the production of electrolyzers. L&T also plans to develop a gigawatt-scale manufacturing facility for electrolyzers based on Mc Phy’s technology in India to cater to the domestic requirements as well as other regions.

L&T plans to set up a gigawatt-scale manufacturing facility for electrolyzers based on Mc Phy technology in India. (Source: ©Alexey Rezvykh - stock.adobe.com) — L&T plans to set up a gigawatt-scale manufacturing facility for electrolyzers based on Mc Phy technology in India.
(Source: ©Alexey Rezvykh - stock.adobe.com)

Mumbai/India – Larsen & Toubro (L&T) has recently entered into an Electrolyzer Manufacturing Binding Agreement with Mc Phy Energy, a France-based leading electrolyzer technology and manufacturing company, for a long-term partnership to explore the opportunities unfolding in the emerging green hydrogen market.

Under this partnership, Mc Phy will grant an exclusive license of its pressurized 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 Mc Phy technology in India to serve the domestic requirements as well as cater to the other selected geographies.

The proposed agreement is in line with L&T’s strategic vision to be present across the green energy value chain and also furthers Mc Phy’s aim to expand beyond the European market.

Commenting on the occasion, Subramanian Sarma, Whole Time Director (Energy), L&T said, “The energy industry is undergoing a tectonic shift with green hydrogen emerging as a key fuel in the future energy basket.”

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“We are looking forward to an exciting journey where this partnership of L&T and Mc Phy will play a key role in creating a sustainable energy infrastructure for the future. The green hydrogen industry is at a nascent stage with an immense potential, and through this partnership both organizations will harness their inherent strengths to establish cost leadership through local manufacturing and sourcing,” said Derek M Shah, Sr. Vice President & Head, L&T Energy - Green Mfg. & Development.

India is well suited for green hydrogen production due to the low generation costs of renewable electricity from abundantly available solar PV and wind power sources. The country aims to be among the world’s largest green hydrogen hubs and has grand plans for using the same across the sectors. It can also provide India the energy security by reducing the ever-increasing oil import bill while charting a pathway to green alternatives for ‘hard-to-abate’ industries like refineries, fertilizers, steel, and transport.

Green hydrogen production capacity in India is estimated to grow to at least 5 MMTPA by 2030 in line with the nation’s Green Hydrogen Mission, which would call for investments upward of 100 billion dollars.

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