L&T Energy Green Tech (L&T Green) has won the Indian Oil Corporation’s (IOCL) auction to set up a green hydrogen generation plant at the Panipat Refinery Petrochemical Complex in Haryana. The project will have a capacity of 10 kilo tons per annum (KTPA) and will be developed on a build-own-operate (BOO) basis. L&T won the entire capacity by quoting a rate of ₹397 per kg.
The tender for this project was floated by IOCL in April 2024, and companies such as ReNew E Fuels and NTPC Renewable Energy had also participated in the bidding process. The selected company is required to complete the project and begin supplying hydrogen within 30 months from the award date. L&T will supply green hydrogen to IOCL for a long-term period of 25 years.
To qualify for the tender, bidders needed to have a minimum combined capital investment or completed orders worth ₹1,082 crore in the last 12 years. These projects had to be related to sectors such as refineries, petrochemicals, fertilizers, or power, and a maximum of five plants could be considered for this requirement.
This project marks a significant step in India’s push for cleaner energy solutions.
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