L&T Open to Minority Stake Sale in Green Hydrogen and Ammonia Projects

Larsen & Toubro (L&T) is considering offering minority stakes to global off-takers in its green hydrogen and ammonia projects across India, according to Derek M Shah, Chief Executive Officer and Managing Director of L&T Energy GreenTech.
The company is in talks with international firms that view India as a strategic base for green hydrogen and ammonia production. L&T has announced plans for a hydrogen project at Paradip Port in Odisha under the National Green Hydrogen Mission.
Shah said the company’s plans include developing green hydrogen and ammonia plants in Kandla and other locations in India. Some potential partners are seeking minority holdings in these projects in exchange for strategic value addition.
At Kandla, Gujarat, the Deendayal Port Authority has commissioned the country’s first Make-in-India 1 MW green hydrogen plant, executed by L&T. The facility can produce 140 metric tonnes of green hydrogen annually. L&T has also secured 500 acres of land in Kandla through an auction to establish a large-scale green hydrogen and ammonia complex. The project, estimated at up to ₹40,000 crore over eight years, will be executed in six phases, with construction scheduled to start in mid-2026.
Separately, L&T Energy GreenTech will build what is expected to be India’s largest green hydrogen plant at Indian Oil Corporation Limited’s Panipat Refinery in Haryana. The facility will operate on renewable power from a hybrid of wind and solar sources. The green hydrogen will be blended with grey hydrogen for refinery processes.
L&T has also established domestic manufacturing for alkaline electrolysers, positioning itself as the first Indian company to produce them indigenously. The Panipat project will be delivered using fully localised engineering, procurement, manufacturing, and construction processes.