Larsen & Toubro (L&T), an Indian multinational EPC solutions provider, has carved out 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.
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.”
There is a strong momentum in India’s pursuit of promoting renewable energy especially towards increasing the share of non-fossil fuels-based electricity. Renewable energy implementing agencies have chalked out clear capacity addition trajectories and several schemes including Green Energy Corridors are being implemented.
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, there are significant investments materializing in the adjacent regions such as in the SAARC, ASEAN, CIS and the African countries.
L&T already has a vast renewable EPC portfolio of 22 GWp globally. In addition to ground-mounted solar, floating solar and wind balance-of-plant projects, L&T’s battery energy storage system implementation aggregates to 3 GWh.
L&T is associated with some of the world’s largest single-site renewable energy parks. In Saudi Arabia, it is executing major projects including the 700 MW Ar Rass, the 2 GW Ar Rass-2, and the 1.6 GW Sudair solar plants. Recently, it announced orders for another two plants with an aggregate capacity of 3.5 GW AC. It 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. L&T is executing Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
L&T’s India projects include 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.
Against this backdrop, L&T has created the renewable 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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