Larsen & Toubro on Monday announced that it had launched a new business vertical for renewable engineering, procurement, and construction projects following the global shift toward clean energy.
According to a statement, the company said the new vertical will be carved out from its power transmission and distribution business within its infrastructure projects segment effective Sept. 1.
The renewable EPC business will enhance management visibility and ensure seamless integration of resources and capabilities. The company appointed L&T Senior Vice President A Ravindran as the head of the renewable business.
“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 L&T Chairman and Managing Director SN Subrahmanyan in a statement.
Middle East Footprint
The diversified conglomerate is a leading player globally with a vast portfolio of 22 gigawatt-peak in renewable EPC experience. Its battery energy storage system aggregates to 3 gigawatt-hours.
L&T is a critical player in Saudi Arabia with major solar photovoltaic projects, including 700 MW and 2,000 MW plants in Ar Rass and a 1.6 GW solar installation in Sudair.
Recently, it announced orders for two more plants with an aggregate capacity of 3.5GW in alternating current.
The company is also 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.
The engineering giant is also executing Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
Domestic projects
L&T has constructed some of India’s iconic renewable energy projects, including the 90MW Omkareshwar floating solar project commissioned recently.
The statement further said that its other achievements include India’s first grid-scale solar cum storage project and the implementation of decentralized distributed generation packages for remote villages.
“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 Subrahmanyan.
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