L&T forms separate vertical for Renewable EPC business from power transmission business

Larsen and Toubro Ltd. said it has carved out a separate business vertical for renewable EPC out of its power transmission and distribution business, within its infrastructure projects segment.

According to the exchange filing made, there is strong momentum in India's pursuit of promoting renewable energy, especially towards increasing the share of non-fossil fuels-based electricity. It said India is looking at green jobs and renewable growth as important aspects of achieving Viksit Bharat and equitable climate justice for the world.

"Renewable energy implementing agencies have chalked out clear capacity addition trajectories and several schemes including green energy corridors are being implemented," L&T said.

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The company added that the Middle East region is ideal for solar generation, and significant investments are materializing in the adjacent regions such as in the SAARC, ASEAN, CIS, and African countries.

"L&T is already a leading player globally with a vast portfolio of 22 GWp of renewable EPC experience. In addition to Ground Mounted Solar, Floating Solar and Wind Balance of Plant projects further, L&T’s Battery Energy Storage System implementation aggregates to 3GWh. Combined with L&T’s Grid and Digital Energy Solutions related offerings, this business has earned a reputation for timely and safe construction of giga scale renewable projects," the company said.

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It is also associated with some of the world's largest single-site renewable energy parks. The company said it is also a key player in major renewable projects in Saudi Arabia, Dubai, Jeddah, India, and other regions.

The company has created the renewables EPC business, an addition to its construction verticals, to enhance management visibility and to ensure seamless integration of resources and capabilities.

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