Larsen & Toubro, a global conglomerate, has announced the creation of a separate business vertical for Renewable EPC within its Infrastructure Projects segment, effective from 1st September 2024. With the increasing focus on clean energy transition and the urgent need to combat climate change, the demand for decarbonized electricity has skyrocketed in recent years. The rapid technological advancements in renewable generation, particularly in solar and wind energy, have paved the way for a significant growth in the global mix of renewable energy sources.
The spatial and temporal variability of renewable energy necessitates a hybrid approach, combining different sources and integrating energy storage devices to ensure a constant and reliable power supply. In addition, innovative market structures such as capacity markets and flexibility markets are set to evolve in the renewable energy sector to meet the growing demand for electricity.
The Middle East region, with its high solar irradiance, vast land availability, and alignment of solar generation with peak cooling demand, is an ideal location for solar energy generation. L&T, already a leading player in the global renewable energy market, boasts a vast portfolio of 22 GWp of renewable EPC experience, including ground-mounted solar, floating solar, wind balance of plant projects, and battery energy storage system implementation totaling 3GWh.
L&T’s involvement in major renewable energy projects in Saudi Arabia, including solar PV plants and green hydrogen plants, further solidifies its position as a key player in the region. The company is also contributing to the renewable infrastructure development in countries like the UAE and India, where there is a strong momentum in promoting renewable energy.
In India, the pursuit of increasing the share of non-fossil fuels based electricity has gained significant traction, with a focus on green jobs and equitable climate justice. L&T has been involved in constructing iconic renewable energy projects in India, including the recent commissioning of the 90MW Omkareshwar Floating Solar project and the implementation of the country’s first grid-scale solar cum storage project.
To enhance management visibility and ensure seamless integration of resources and capabilities, L&T has established the Renewable EPC business as a new vertical within its construction segment. This strategic move aims to capitalize on the growth opportunities in the renewable energy sector and solidify L&T’s position as a preferred partner for its customers. A. Ravindran has been appointed as the Head of Renewable Business, under the leadership of S.N. Subrahmanyan, Chairman & Managing Director of Larsen & Toubro.
