There has been a major deal towards promoting green hydrogen in India. L&T Energy Green Tech has received a contract to create 10,000 tonnes every year by IOCL (Indian Oil Corporation Limited) in Haryana’s Panipat Refinery.
This project will be for 25 years and will make it, run, run and supply hydrogen.
📌 Who bid in the tender?
Company name rate (₹ per kg, including GST) status L&T Energy Green Tech ₹ 397 ✅ Winner (L1) NTPC Renewable Energy ₹ 398 L2 Renew E Fuels ₹ 407 L3
After winning this project, L&T surpassed the rest of the companies.
💡 Why is this big news?
This was IOCL’s first green hydrogen tender to include more than half a dozen companies.
The first two tender companies were canceled due to low interest.
The tender that came this time was taken out on 11 September 2024, and the last date was extended twice on the demand of companies.
Now L&T has won.
📈 Which shares will affect this news?
Why is the company’s name impact on the share? L&T (Larsen & Toubro) 📈 Positive this project will boost the company’s green energy business and get a 25 -year regular revenue. IOCL (Indian Oil) 📈 Light positive company is moving towards Green Energy, which will improve ESG ratings. NTPC 📉 Lost Negative Tender Losing not contains immediati loss, but the chance went by hand. Renew e fuels 📉 negative L3 means the most expensive bid, got out of the tender. Other companies associated with the Hydrogen sector 📈/📉 mixed and combined competition is increasing in the industry, but the Green Hydrogen market is growing rapidly.
