HydrogenPro inks MoU with L&T for Manufacturing Hydrogen Electrolysers in India

strategy of establishing a global manufacturing footprint to maintain cost leadership and ensure local presence.

Commenting on the occasion, Mr. S N Subrahmanyan, CEO & MD, L&T said, "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 MoUwith HydrogenPro. This will be a win-win partnership given our extensive relationship across the energy industry, deep EPC experience in this sector and successful ongoing collaborations with many MNCs and HydrogenPro's focus to stay ahead of the curve as far as technology leadership is concerned".

"We're extremely pleased to enter this Memorandum of Understanding with L&T, an E&C powerhouse which is the perfect partner to establish HydrogenPro in the Indian market, a huge and growing energy market with tremendous potential for hydrogen-based solutions," said Mr. Elling Nygaard, CEO of HydrogenPro.

"We are looking forward to this exciting journey and make this partnership work for creating sustainable infrastructure for the future. The Green Hydrogen industry is at a nascent stage with an immense potential to offer great opportunities. This partnership is a right step in creating clean, green and sustainable future," said Mr. Subramanian Sarma, Whole Time Director (Energy), L&T.

India has made the world's largest expansion plan for renewable energy transition, with a target of 175GW of renewables by 2022 and 500 GW by 2030 and Green Hydrogen demand in India is estimated to grow up to 2 MMTPA by 2030 in line with the nation's Green Hydrogen Mission, which would call for investments upward of $60 billion.