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    500510   INE018A01030

LARSEN & TOUBRO LIMITED

(500510)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-11-24
2062.30 INR   +0.39%
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L&T commissions Green Hydrogen Plant at its manufacturing complex in Hazira

08/22/2022 | 08:23am EST

Mumbai - Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services, announced the commissioning of a Green Hydrogen Plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat. The plant was inaugurated by Mr. Shrikant Madhav Vaidya, Chairman - Indian Oil Corporation Limited. The production of Green Hydrogen based on an alkaline electrolysis process has begun today. The plant will produce 45 Kg of Green Hydrogen daily, which will be used for captive consumption in the company's Hazira manufacturing complex.

The Green Hydrogen Plant is designed for an electrolyser capacity of 800 kW comprising both Alkaline (380 kW) and PEM (420 kW) technologies and will be powered by a rooftop solar plant of 990kW peak DC capacity and a 500kWh Battery Energy Storage System (BESS). As part of the first phase of the project 380 kW Alkaline electrolyser has been installed, while the 420 kW PEM electrolyser along with solar plant capacity augmentation to 1.6 MW peak DC, will be part of future expansion.

Commenting on the occasion, Mr. Subramanian Sarma, Whole-time Director & Senior Executive Vice President (Energy), L&T said: 'L&T is at the forefront of providing innovative and sustainable solutions that will help meet the energy needs of the future. We are proud that our engineers have set up the Green Hydrogen generation plant at Hazira complex and integrated it with the existing manufacturing shops for use of the green hydrogen.'

He added that 'This initiative is in line with L&T's climate leadership targets of Lakshya-2026 that will help reduce greenhouse gases footprint for us as well as our clients by approximately 300 tonnes/annum. We believe that Green Hydrogen is a promising alternative fuel, and this plant is a testimony that we are committed to creating a greener tomorrow.'

The plant is spread across 3000 sq. meters, and the first phase of the project has been installed, tested, and commissioned. The scope involves the generation of high purity Green Hydrogen (99.99%) and Oxygen, and their captive consumption in the manufacturing shops. A blend of 15% Hydrogen with Natural Gas will be used as a fuel, and oxygen will supplement the existing usage in cutting and welding applications.

To ensure safe operation and production, the plant design incorporates both active and passive safety systems and will be operated through state-of-the-art control systems with remote monitoring functionality. In addition, an integrated data analytics platform designed by L&T will provide insights into the performance of the electrolysers and the overall plant.

As part of its ESG commitments, L&T has pledged to achieve water neutrality by 2035 and carbon neutrality by 2040. Making Green Hydrogen an integral part of its clean fuel adoption policy.

L&T's climate change, energy efficiency and renewable energy programmes are aligned with the National Action Plan on Climate Change (NAPCC), released by the Government of India. The Company's programmes are also being aligned to the Nationally Determined Contributions (NDCs) ratified by the Government of India during the COP 21 - Paris Agreement.

Background:

Larsen & Toubro is an Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Contact:

Ketan Bondre

E: Ketan.Bondre@larsentoubro.com

Tel: +91 22 66965237

Amit Biwas

E: AmitBiswas@larsentoubro.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
INDIAN OIL CORPORATION LIMITED 3.89% 76.2 Delayed Quote.-1.32%
LARSEN & TOUBRO LIMITED 0.39% 2062.3 End-of-day quote.8.83%
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Sales 2023 1 810 B 22 140 M 22 140 M
Net income 2023 110 B 1 350 M 1 350 M
Net Debt 2023 1 017 B 12 437 M 12 437 M
P/E ratio 2023 26,0x
Yield 2023 1,28%
Capitalization 2 898 B 35 448 M 35 448 M
EV / Sales 2023 2,16x
EV / Sales 2024 1,88x
Nbr of Employees 49 921
Free-Float 84,1%
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Last Close Price 2 062,30 INR
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Sekharipuram Narayan Subrahmanyan Chief Executive Officer, MD & Executive Director
Ramamurthi Shankar Raman Chief Financial Officer & Executive Director
Anil Kumar Manibhai Naik Group Non-Executive Chairman
A. Sivaram Nair Secretary & Compliance Officer
Mukund Manohar Chitale Independent Non-Executive Director
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