Larsen & Toubro Enters In To Strategic JV With Norwegian Firm HydrogenPro To Manufacture Gigawatt-scale Green Hydrogen Electrolysers

by India Infrahub - Jan 29, 2022 11:47 AM +05:30 IST
Larsen & Toubro Enters In To Strategic JV With Norwegian Firm HydrogenPro  To Manufacture Gigawatt-scale Green Hydrogen Electrolysers
Norway’s HydrogenPro
Snapshot
  • Indian infrastructure and engineering behemoth Larsen & Toubro (L&T) announced on Thursday that it is teaming up with Norway’s HydrogenPro to make gigawatt-scale green hydrogen electrolysers in India.

    India is considered to be highly suitable for green hydrogen production due to the low generation costs of renewable electricity from abundantly available solar PV and wind power sources.

Indian infrastructure and engineering behemoth Larsen & Toubro (L&T) announced on Thursday (Jan 27) that it is teaming up with Norway’s HydrogenPro to make gigawatt-scale green hydrogen electrolysers in India.

Under this agreement, L&T and HydrogenPro will jointly work towards setting up of a joint venture in India for gigawatt-scale manufacturing of alkaline water electrolysers based on HydrogenPro technology for Indian market and other select geographies.

Norway-based HydrogenPro is a leading electrolyser technology and manufacturing company. The company is targeting a production cost for green hydrogen of $1.2 per kg in 2022. Its core offering is an alkaline high-pressure electrolyser. With the new electrode technology, the company say that the the cost of electric power, that constitutes 70-90% of the cost of producing hydrogen, can be reduced.

Hydrogen Electrolysis
Hydrogen Electrolysis

L&T said the proposed joint venture “is in line with its strategic vision to be present across the green energy value chain and HydrogenPro’s strategy of establishing a global manufacturing footprint”.

L & T CEO said that the energy industry is undergoing a tectonic shift with Green Hydrogen emerging as a key fuel in the future energy basket.

"We are delighted to have signed this MoUwith HydrogenPro. This will be a win-win partnership given our extensive relationship across the energy industry, deep EPC experience in this sector and successful ongoing collaborations with many MNCs and HydrogenPro’s focus to stay ahead of the curve as far as technology leadership is concerned” he added

“We’re extremely pleased to enter this Memorandum of Understanding with L&T, an E&C powerhouse which is the perfect partner to establish HydrogenPro in the Indian market, a huge and growing energy market with tremendous potential for hydrogen-based solutions,” said Elling Nygaard, CEO of HydrogenPro.

India's Green Hydrogen Ambitions

India has unveiled the world’s largest expansion plan for renewable energy transition, with a target of 175GW of renewables by 2022 and 500 GW by 2030.

India is considered to be highly suitable for green hydrogen production due to the low generation costs of renewable electricity from abundantly available solar PV and wind power sources.

India aims to be among the world’s largest Green Hydrogen hubs and has plan for using the same across the sectors.

India hopes to achieve energy security by reducing the ever-increasing energy import bill and a pathway to green alternative for “hard-to-abate” industries, like refineries, fertilisers, steel, and transport.

Green Hydrogen demand in India is estimated to grow up to 2 MMTPA (Million Metric Tonne Per Annum) by 2030 in line with the nation’s Green Hydrogen Mission, which would call for investments upward of $60 billion.

Get Swarajya in your inbox everyday. Subscribe here.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Comments ↓
Get Swarajya in your inbox everyday. Subscribe here.
Advertisement

Latest Articles

    Artboard 4Created with Sketch.