L&T sets up green hydrogen subsidiary

Larsen & Toubro (L&T) has incorporated a new wholly-owned subsidiary, Panipat Green Hydrogen Private Limited, to focus on green hydrogen initiatives.  

Earlier, L&T had also set up L&T Green Energy Kandla Private Limited. This subsidiary is dedicated to developing green hydrogen and its derivatives, including green ammonia. These efforts are part of L&T’s plan to build a comprehensive green energy portfolio.

L&T is also investing in electrolyser manufacturing—essential for producing green hydrogen—and is exploring both domestic and export market opportunities. The company has partnered with John Cockerill to explore technologies such as concentrated solar power and thermal energy storage for hydrogen production.

In a separate development, Fitch Ratings has affirmed L&T’s long-term foreign and local currency issuer default ratings at ‘BBB+’ with a stable outlook. The rating reflects the company’s financial strength and operational stability, even as it expands into new energy sectors.