Larsen & Toubro (L&T) has entered the green hydrogen sector with the incorporation of a new wholly-owned subsidiary, Panipat Green Hydrogen Pvt Ltd.

This move aligns with the Indian government's push for clean energy under the National Green Hydrogen Mission. L&T had earlier acquired land in Kandla, Gujarat, for green hydrogen and green ammonia projects, reflecting its proactive strategy in the renewable energy space. The company's latest venture aims to capitalize on emerging opportunities in hydrogen-based clean fuels, especially in transportation and industrial sectors. Meanwhile, Fitch Ratings has affirmed L&T’s long-term foreign and local currency issuer default ratings at 'BBB+' with a stable outlook, underscoring the company's robust financial position. This rating affirmation supports L&T's confidence as it diversifies into sustainable energy. The foray into green hydrogen marks a significant step in L&T’s transformation into a key player in India’s energy transition and a contributor to global decarbonization goals.