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L&T to Build World’s Largest Green Hydrogen Plant

01 June 20232 mins read by Angel One
NEOM Green Hydrogen company is setting up a mega plant to produce green hydrogen at scale for global export in the form of green ammonia with a total investment of USD 8.4 billion.
L&T to Build World’s Largest Green Hydrogen Plant
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Larsen & Toubro’s Power Transmission & Distribution Business has achieved significant milestones for the Power Elements and Grid packages of the world’s largest green hydrogen plant, which is being built by NEOM Green Hydrogen Company. NEOM Green Hydrogen Company (NGHC), located in Saudi Arabia’s NEOM region, is an equal joint venture between ACWA Power, Air Products, and NEOM. 

With a total investment of USD 8.4 billion, NGHC is constructing a mega plant to produce green hydrogen on a large scale for global export in the form of green ammonia. The project has now reached full financial close, thanks to the support of 23 local, regional, and international banking and financial institutions, and construction is underway. 

A few quarters back, L&T received the nod to establish the Renewable Energy Generation, Storage, and Grid infrastructure, from Air Products, the system-integrating EPC Contractor and exclusive off-taker of green ammonia to be produced from the project. The value of the packages awarded to L&T aggregates USD 2.779 billion. Since then, significant progress has been achieved in various activities including surveys, design & engineering, establishment of temporary facilities, and procurement of long lead items. 

Today, the stock opened at Rs 2210.35, with a high and low of Rs 2221 and Rs 2202.20. Currently, the stock is trading at Rs 2209.55, up by 0.14%. The stock has a 52-week high of Rs 2416 and a 52-week low of Rs 1,456.80. The company has a ROCE of 12.5% and an ROE of 12.1% with a market capitalization of Rs 3,10,632 crore.

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