Larsen & Toubro Establishes New Arm for Green Hydrogen Projects Larsen & Toubro (L&T) has incorporated a new wholly-owned arm, Panipat Green Hydrogen Pvt Ltd, to develop green hydrogen projects and carry out related business activities. This move is part of the company's efforts to expand its presence in the renewable energy sector. L&T had earlier secured a land parcel in Kandla, Gujarat, for the development of green hydrogen and green ammonia projects.

Company Developments

The new subsidiary, Panipat Green Hydrogen, will focus on developing green hydrogen projects, with the government actively promoting green hydrogen as a clean energy source. L&T's long-term foreign and local currency issuer default ratings have been affirmed at 'BBB+' by Fitch Ratings, with a stable outlook. This rating affirmation indicates a positive assessment of the company's financial stability and creditworthiness.

Government Initiatives

The government is supporting the development of green hydrogen through initiatives like the National Green Hydrogen Mission. Additionally, pilot projects are being implemented to explore the use of green hydrogen in transportation. These initiatives demonstrate the government's commitment to promoting clean energy sources and reducing dependence on fossil fuels.

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