L&T Energy Green Tech, a wholly owned subsidiary of Larsen & Toubro, has emerged as the winner of Indian Oil Corporation’s (IOCL) first-ever green hydrogen tender. The company will develop a 10,000-tonnes-per-annum (TPA) green hydrogen facility at IOCL’s Panipat refinery in Haryana, marking a major breakthrough for L&T in India’s emerging green hydrogen sector.

According to sources familiar with the development, L&T outbid NTPC Renewable Energy and Renew E Fuels in a competitive reverse e-auction. L&T offered to supply green hydrogen at ₹397 per kg ($4.67) including 18% GST—marginally lower than NTPC’s ₹398 per kg ($4.68) and Renew E Fuels’ ₹407 per kg ($4.79).

The project will be implemented on a Build-Own-Operate (BOO) model with a 25-year contract period. IOCL had previously floated two green hydrogen tenders that were eventually scrapped due to limited industry response. The latest tender, issued on September 11, 2024, initially sought bids by November but extended the deadline twice—ultimately closing on January 6, 2025—due to bidder requests.

“This is a significant business win for L&T in the green hydrogen space,” an official close to the process noted. IOCL has yet to issue an official statement, and queries sent to both IOCL and L&T remained unanswered at press time.

The project is expected to play a key role in IOCL’s strategy to decarbonize its refining operations and align with India’s broader clean energy goals under the National Green Hydrogen Mission.

Source:

https://www.financialexpress.com/business/industry-lampt-to-build-indias-largest-green-hydrogen-plant-atnbspindian-oils-panipat-refinery-3921493/