Larsen & Toubro (L&T) will scale up the power capacity of its electrolyser to 4 megawatts (MW) and is eyeing domestic orders in FY25-26.
The company, in March, indigenously manufactured its first electrolyser of 1-MW power capacity at its green hydrogen plant at A M Naik Heavy Engineering Complex in Hazira, Gujarat.
“We are currently testing the electrolyser for several scenarios to check strength, features, performance and other functionalities. Once the product becomes stable and competitive, we will scale up the manufacturing of the electrolyser. We are trying to increase the capacity of the electrolysed stack to 4 MW in the next phase, which will involve working closely with McPhy Energy. The effort to perfect the product will go in FY25, and in FY25-26, we will start to win domestic orders. The international market for electrolysers will open up in the 2026-2031 plan,” R Shankar Raman, who has been elevated as President, Whole-time Director and Chief Financial Officer of Larsen & Toubro, told businessline.
The Mumbai-based company is looking to tap into international markets for its electrolyser business.
L&T Electrolysers have been allocated a Production Linked Incentive (PLI) for 300 MW. The PLI of the National Green Hydrogen Mission by the Ministry of New and Renewable Energy (MNRE) implemented by the Solar Energy Corporation of India of nearly ₹444 crore will be consumed over five years.
Q4 results
L&T reported a 10 per cent jump in consolidated net profit for the March quarter of FY24. The company clocked ₹4,396 crore profit as against ₹3,986 crore registered in the same quarter last year and a 49.16 per cent increase in profit with ₹2,947 crore reported in December.
The total revenue from operations grew 15 per cent to ₹58,335 crore in March (₹58,335 crore).