L&T and McPhy Energy reach a deal for the production of electrolysers
25 Mar 2023
2 Min Read
CW Team
Leading manufacturer of electrolysers McPhy Energy, with headquarters in France, has signed a
definitive deal with engineering and construction giant Larsen & Toubro (L&T). According to a
statement from the company, under the terms of this cooperation, McPhy will give L&T an exclusive
licence to manufacture electrolysers, including any future product enhancements, using its
pressurised alkaline electrolyser technology.
L&T intends to build an electrolyser production facility on the magnitude of a gigawatt in India using
McPhy technology to meet domestic demand as well as the needs of other chosen regions. The
proposed arrangement advances McPhy's goal of growing outside of the European market and is
consistent with L&T's strategic strategy to be present along the whole green energy value chain.
Speaking on the occasion, Subramanian Sarma, Whole Time Director (Energy), L&T stated, "The
energy industry is undergoing a tectonic shift with green hydrogen emerging as a key fuel in the
future energy basket. We are delighted to have signed this agreement with McPhy which will be a
win-win partnership given L&T鈥檚 strong presence across the entire value chain of manufacturing, EPC
and services in the energy sector, and McPhy鈥檚 technology and research leadership in this sector.鈥�
Due to the low production costs of renewable electricity from a wealth of readily accessible solar PV
and wind power sources, India is well suited for the production of green hydrogen. The nation has
ambitious intentions to use green hydrogen across all industries and hopes to be one of the biggest
hubs for it in the world.
By lowering the country's rising oil import costs and paving the way for environmentally friendly
alternatives for "hard-to-abate" industries like refineries, fertilisers, steel, and transportation, it can
also give India energy stability. According to India's Green Hydrogen Plan, which would require
expenditures of up to $100 billion, the country's green hydrogen production capacity is projected to
increase to at least 5 MMTPA by 2030.
Jean-Baptiste Lucas, CEO of McPhy stated that, 鈥淢cPhy wants to be a global leader in the
manufacture of electrolysers. Joining forces with a major partner like Larsen & Toubro to address
new markets is a great opportunity for McPhy and evidence of the attractiveness of its technology.鈥�
Leading manufacturer of electrolysers McPhy Energy, with headquarters in France, has signed a
definitive deal with engineering and construction giant Larsen & Toubro (L&T). According to a
statement from the company, under the terms of this cooperation, McPhy will give L&T an exclusive
licence to manufacture electrolysers, including any future product enhancements, using its
pressurised alkaline electrolyser technology.
L&T intends to build an electrolyser production facility on the magnitude of a gigawatt in India using
McPhy technology to meet domestic demand as well as the needs of other chosen regions. The
proposed arrangement advances McPhy's goal of growing outside of the European market and is
consistent with L&T's strategic strategy to be present along the whole green energy value chain.
Speaking on the occasion, Subramanian Sarma, Whole Time Director (Energy), L&T stated, The
energy industry is undergoing a tectonic shift with green hydrogen emerging as a key fuel in the
future energy basket. We are delighted to have signed this agreement with McPhy which will be a
win-win partnership given L&T鈥檚 strong presence across the entire value chain of manufacturing, EPC
and services in the energy sector, and McPhy鈥檚 technology and research leadership in this sector.鈥�
Due to the low production costs of renewable electricity from a wealth of readily accessible solar PV
and wind power sources, India is well suited for the production of green hydrogen. The nation has
ambitious intentions to use green hydrogen across all industries and hopes to be one of the biggest
hubs for it in the world.
By lowering the country's rising oil import costs and paving the way for environmentally friendly
alternatives for hard-to-abate industries like refineries, fertilisers, steel, and transportation, it can
also give India energy stability. According to India's Green Hydrogen Plan, which would require
expenditures of up to $100 billion, the country's green hydrogen production capacity is projected to
increase to at least 5 MMTPA by 2030.
Jean-Baptiste Lucas, CEO of McPhy stated that, 鈥淢cPhy wants to be a global leader in the
manufacture of electrolysers. Joining forces with a major partner like Larsen & Toubro to address
new markets is a great opportunity for McPhy and evidence of the attractiveness of its technology.鈥�
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