Larsen & Toubro (L&T) has launched a separate business vertical for Renewable EPC out of its Power Transmission & Distribution business, within its Infrastructure Projects segment.
A. Ravindran, Senior Vice President – Larsen & Toubro, has been appointed as the Head of Renewable Business.
L&T currently has a portfolio of 22 GWp of renewable EPC experience, in addition to Ground Mounted Solar, Floating Solar and Wind Balance of Plant projects. L&T’s Battery Energy Storage System implementation aggregates to 3GWh.
“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,” said S.N.Subrahmanyan, Chairman and Managing Director – Larsen & Toubro, calling the space “promising.”
The Indian multinational conglomerate is present in over 50 countries and spans a number of segments, including technology, engineering, construction, manufacturing, power and financial.
“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,” added the L&T MD.
In a statement this week, the company said that the Middle East is an “ideal region” for solar generation, due to its high solar irradiance, abundant land availability, alignment of solar generation with peak cooling demand and “freeing up of fossil fuel for exports.”
Regionally, the company is involved with projects such as the Ar Rass Solar PV IPP, the 2,000 MW Ar Rass-2 Solar PV IPP, and the 1.6 GW Sudair solar plant, as well as the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
According to research from Ember earlier this year, in 2023, less than 1.5 per cent of the region’s electricity came from solar.