Mumbai: L&T Energy Green Tech has won a bid to build a 10,000 tonnes per annum green hydrogen plant at Indian Oil Corporation's (IOCL) Panipat refinery in Haryana, according to sources aware of the development.
L&T Energy Green Tech, a wholly owned subsidiary of EPC major Larsen and Toubro, took the lead over NTPC Renewable Energy and Renew E Fuels, which were the L2 and L3 bidders, respectively.
L&T Energy Green Tech will supply green hydrogen at ₹397 ($4.67) per kg with 18% GST (goods and services tax). NTPC's bid value was ₹398 per kg ($4.68) with GST, and Renew E Fuels' bid value was at ₹407 per kg ($4.79) with GST.
The green hydrogen project is to be set up on a build, own operate (BOO) basis for 25 years. Over half a dozen companies had bid in IOCL's maiden green hydrogen tender early this year.
"It's a major business win for L&T in the Green Hydrogen space. IOCL announced the outcome of the reverse e-auction this afternoon," said an official aware of the development.
L&T and IOCL did not reply to an email query till press time.
IOCL had previously cancelled two tenders as there was little interest from the industry. The latest tender was floated on September 11, 2024, had sought bids by November 11, but the deadline was pushed twice to January 6 on the request of the participating companies.
L&T Energy Green Tech, a wholly owned subsidiary of EPC major Larsen and Toubro, took the lead over NTPC Renewable Energy and Renew E Fuels, which were the L2 and L3 bidders, respectively.
L&T Energy Green Tech will supply green hydrogen at ₹397 ($4.67) per kg with 18% GST (goods and services tax). NTPC's bid value was ₹398 per kg ($4.68) with GST, and Renew E Fuels' bid value was at ₹407 per kg ($4.79) with GST.
The green hydrogen project is to be set up on a build, own operate (BOO) basis for 25 years. Over half a dozen companies had bid in IOCL's maiden green hydrogen tender early this year.
"It's a major business win for L&T in the Green Hydrogen space. IOCL announced the outcome of the reverse e-auction this afternoon," said an official aware of the development.
L&T and IOCL did not reply to an email query till press time.
IOCL had previously cancelled two tenders as there was little interest from the industry. The latest tender was floated on September 11, 2024, had sought bids by November 11, but the deadline was pushed twice to January 6 on the request of the participating companies.
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