L&T Energy GreenTech, a subsidiary of Larsen & Toubro, has secured the contract to build a green hydrogen production plant for Indian Oil Corporation at its Panipat refinery in Haryana. The plant will have an annual production capacity of 10,000 tonnes.
The company won the bid with an offer to supply green hydrogen at INR 397 per kilogram, edging out NTPC Renewable Energy, which quoted INR 398/kg, and ReNew, which submitted a price of INR 407/kg. This project will be executed on a build-own-operate (BOO) model, under which L&T will develop, own, and run the facility, delivering green hydrogen to IndianOil at the agreed price.
The plant must operate continuously—round-the-clock, all year—using water electrolysis powered entirely by renewable energy sources to meet the green hydrogen criteria. This marks a significant step forward in India’s transition to cleaner fuels, aligning with national goals of reducing carbon emissions and cutting reliance on fossil fuels.
IndianOil’s tender had previously been floated twice but was withdrawn both times due to limited interest from bidders. However, the third round attracted five participants, signaling growing industry engagement in the green hydrogen space.
L&T’s success in securing this deal highlights its growing presence in the clean energy sector and reinforces its capabilities in handling large-scale infrastructure projects involving emerging technologies. The Panipat project is expected to become one of the largest green hydrogen plants in India once operational, supporting IndianOil’s decarbonization initiatives and future fuel diversification strategy. This win also strengthens L&T’s position as a key player in the hydrogen economy, as more public and private sector entities look to green hydrogen as a vital component of sustainable energy systems.
Larsen & Toubro is a leading Indian multinational corporation specializing in Engineering, Procurement and Construction (EPC) projects, high-tech manufacturing, and a broad spectrum of services. With operations spanning more than 50 countries, L&T has built a global presence rooted in excellence. Driven by a strong customer-centric philosophy and an unwavering commitment to quality, L&T has maintained industry leadership across its core business verticals for over 80 years.
