L&T signs agreement with France-based McPhy for electrolyser manufacturing

Larson & Toubro Limited (L&T) has entered into an electrolyser manufacturing binding agreement with France-based McPhy Energy for a long-term partnership to explore the opportunities in the emerging green hydrogen market.

Under this partnership, McPhy will grant an exclusive license of its pressurised alkaline electrolyser technology to L&T for manufacturing of electrolysers, including future product upgrades. L&T plans to set up a gigawatt-scale manufacturing facility for electrolysers based on McPhy technology in India to serve the domestic requirements as well as cater to the other selected geographies. The proposed agreement is in line with L&T’s strategic vision to be present across the green energy value chain and also furthers McPhy’s aim to expand beyond the European market.