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Updated March 1st, 2024 at 10:06 IST

Larsen & Toubro shares surge on commissioning India's first hydrogen electrolyser

L&T Electrolysers Limited, a subsidiary of L&T, unveiled its latest electrolyser boasting a rated power capacity of 1 MW, expandable to 2 MW.

Reported by: Business Desk
Larsen & Toubro
Larsen & Toubro | Image:Larsen & Toubro
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L&T shares surge: Shares of the country's largest infrastructure developer Larsen & Toubro rose as much as 2.68 per cent to hit an intraday high of Rs 3,575 after the company informed exchanges of commissioning India's first indigenously manufactured electrolyser at the Green Hydrogen Plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat.

L&T Electrolysers Limited, a subsidiary of L&T, unveiled its latest electrolyser boasting a rated power capacity of 1 MW, expandable to 2 MW, with the capability to produce 200 Nm3/Hr of hydrogen. The cutting-edge electrolyser features two stacks and an Electrolyser Processing Unit (EPU) ML-400, all built in-house and compliant with the latest international standards. Rigorous testing in the coming weeks aims to optimise performance, paving the way for mass production, the company said in an exchange filing.

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The electrolyser marks a milestone in L&T's commitment to green energy, as it aims to lead the charge in manufacturing pressurised alkaline electrolysers using technology from McPhy Energy, France. The company has orchestrated the entire value chain, from engineering to manufacturing, in collaboration with Indian vendors and suppliers, championing the "Make in India" initiative, L&T added.

Looking ahead, L&T Electrolysers plans to capitalize on its forthcoming giga-scale facility in Hazira to cater to the surging demand for green hydrogen. By enhancing local supply chains and embracing automation, the company aims to maximize product localization while ensuring cost-competitiveness.

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“The indigenously manufactured electrolyser marks a transformative leap towards clean energy, positioning us to lead not only in the domestic market but also globally. This advancement significantly bolsters our offerings across the value chain, showcasing L&T as a global force in the clean energy space,” said Subramanian Sarma, Whole-time Director & Sr EVP (Energy), L&T.

Derek M Shah, Sr VP & Head – Green Energy Business at L&T, said, “Our commitment to localization in this project goes beyond mere cost-efficiency. It empowers the Indian supply chain, creates exciting opportunities for skilled professionals, and aligns perfectly with the vision of Aatmanirbhar Bharat.”

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As of 10:01 am, Larsen & Toubro shares traded 2.34 per cent higher at Rs 3,563, outperforming the Sensex which was up 0.8 per cent.

The stock was among the top gainers in the 30-share Sensex.
 

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Published March 1st, 2024 at 10:06 IST

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