L&T Carves Out Renewable Energy Vertical In Its Infrastructure Segment

L&T Carves Out Renewable Energy Vertical In Its Infrastructure Segment

Effective from 1st September 2024, Larsen & Toubro (L&T) carved out a separate business vertical for renewable EPC out of its Power Transmission and Distribution (PT&D) business, within its Infrastructure Projects segment. L&T has created the Renewable EPC business, as an addition to its construction verticals. The move comes at a time when the division has been growing fast, and winning multiple new businesses in the Middle East in particular. Access to green financing for projects, besides the possibility of bringing in partners in the space will be easier with the hive off. 

 A. Ravindran, Senior Vice President – Larsen & Toubro, has been appointed as the Head of Renewable Business. Commenting on the development S.N.Subrahmanyan, Chairman & Managing Director – Larsen & Toubro said, “The growth of renewable EPC business has accelerated in recent years. Thanks to our early start and investments, we have built an organization that is uniquely placed in the value chain of creating sustainable energy infrastructure. This space is promising. Multiple opportunities are visible. We want to capitalize on our success and wish to remain a preferred partner of choice for our customers. Creation of this vertical will give increased autonomy, customer proximity, and leadership oversight to the business and enable us to excel in this space.”

The Middle East region is ideal for solar generation due to high solar irradiance, abundant land availability, alignment of solar generation with peak cooling demand, and freeing up of fossil fuel for exports. In addition to these core markets, significant investments are materializing in the adjacent regions such as in the SAARC, ASEAN, CIS, and the African countries.

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L&T already has 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 (BESS) 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.

L&T is associated with some of the world’s largest single-site renewable energy parks. In Saudi Arabia, L&T is a key player involved in major projects including the 700 MW Ar Rass Solar PV IPP, the 2,000 MW Ar Rass-2 Solar PV IPP, and the 1.6 GW Sudair solar plant. Recently it announced orders for another two plants with an aggregate capacity of 3.5GWac. It is building the power and grid systems for one of the world’s largest green hydrogen plants at NEOM. Additionally, L&T is advancing renewable infrastructure with a 250 MWp solar PV plant in the Amaala Project and has completed a large-scale solar installation in Jeddah. L&T is executing Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.

L&T has constructed some of the iconic renewable energy projects in India including the 90MW Omkareshwar Floating Solar project commissioned recently. India’s first grid-scale solar cum storage project, and implementation of decentralized distributed generation packages for remote villages are some of the noteworthy achievements.

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