This partnership demonstrates a growing interest in green hydrogen in India. Considering that there are only a handful of electrolyser manufacturers in India, the agreement between L&T and McPhy Energy is a step forward in meeting India’s domestic electrolyser requirement of 60 GW, as estimated by NITI Aayog.

About 35 per cent of the price of green hydrogen is the electrolyser cost. How will L&T raise finance for the planned gigawatt-scale manufacturing facility? Will it be eligible to access funding provided under the Strategic Interventions for Green Hydrogen Transition Programme (SIGHT) programme of the Green Hydrogen Mission?