L&T signs Agreement with McPhy for Electrolyzer betfair live casino
- 22 March 2023
- Technology leadership and emphasis on local betfair live casino to bring down betfair live casino cost of electrolyzers
Mumbai/Paris: Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, Hi-Tech betfair live casino and Services, today have entered into an Electrolyzer betfair live casino Binding Agreement with McPhy Energy (Euronext Paris: FR0011742329, MCPHY.PA), a France-based leading electrolyzer technology and betfair live casino company, for a long-term partnership to explore the opportunities unfolding in the emerging Green Hydrogen market.
Under this partnership, McPhy will grant an exclusive license of its pressurised alkaline electrolyzer technology to L&T for betfair live casino of electrolyzers, including future product upgrades. L&T plans to set up a Gigawatt-scale betfair live casino facility for electrolyzers 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 betfair live casino’s aim to expand beyond the European market.
Commenting on the occasion, Mr. Subramanian Sarma, Whole Time Director (betfair live casino), L&T said, “The energy industry is undergoing a tectonic shift with Green Hydrogen emerging as a key fuel in the future energy basket. We are delighted to have signed this Agreement with McPhy which will be a win-win partnership given L&T’s strong presence across the entire value chain of betfair live casino, EPC and services in the energy sector, and McPhy’s technology and research leadership in this sector”.
“betfair live casino wants to be a global leader in the manufacture of electrolyzers. Joining forces with a major partner like Larsen & Toubro to address new markets is a great opportunity for betfair live casino and evidence of the attractiveness of its technology.” said Mr. Jean-Baptiste LUCAS, CEO of betfair live casino.
“We are looking forward to an exciting journey where this partnership of L&T and betfair live casino will play a key role in creating a sustainable energy infrastructure for the future. The Green Hydrogen industry is at a nascent stage with an immense potential, and through this partnership both organizations will harness their inherent strengths to establish cost leadership through local betfair live casino and sourcing” said Mr. Derek M Shah, Sr. Vice President & Head, L&T betfair live casino - Green Mfg. & Development.
India is well suited for Green Hydrogen production due to the low generation costs of renewable electricity from abundantly available solar PV and wind power sources. The country aims to be among the world’s largest Green Hydrogen hubs and has grand plans for using the same across the sectors. It can also provide India the betfair live casino security by reducing the ever-increasing oil import bill while charting a pathway to green alternatives for “hard-to-abate” industries like refineries, fertilisers, steel, and transport.
betfair live casino production capacity in India is estimated to grow to at least 5 MMTPA by 2030 in line with the nation’s betfair live casino Mission, which would call for investments upward of USD 100 billion.
