Larsen & Toubro has carved out a renewable business division amid growth in its infrastructure segment.
From pv magazine India
Larsen & Toubro, an Indian multinational engineering, procurement, and construction (EPC) solutions provider, has created a separate business division for renewable EPC, splitting it from its power transmission and distribution business. A. Ravindran, senior vice president at Larsen & Toubro, has been appointed 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. This space is promising. Multiple opportunities are visible,” said S.N. Subrahmanyan, chairman and managing director of Larsen & Toubro. “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.”
India has made significant progress in promoting renewable energy, particularly in increasing non-fossil fuel-based electricity. Renewable energy agencies have set clear capacity addition goals, and several initiatives, including the Green Energy Corridors, are underway.
The Middle East is ideal for solar generation due to high solar irradiance, ample land, alignment of solar production with peak cooling demand, and the ability to free up fossil fuels for export.
Larsen & Toubro already has a global renewable EPC portfolio of 22 GWp. Along with ground-mounted and floating solar, as well as wind balance-of-plant projects, the company has implemented 3 GWh of battery energy storage systems.
Larsen & Toubro has worked on some of the world's largest single-site renewable energy parks. In Saudi Arabia, it is executing major projects like the 700 MW Ar Rass, 2 GW Ar Rass-2, and 1.6 GW Sudair solar plants. It recently announced new orders for two additional plants with a combined capacity of 3.5 GW AC.
The company is also building power and grid systems for one of the world's largest green hydrogen plants at NEOM. In addition, Larsen & Toubro is advancing renewable infrastructure with a 250 MWp solar plant in the Amaala Project and has completed a large-scale solar installation in Jeddah. In Dubai, Larsen & Toubro is executing the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park.
In India, Larsen & Toubro's projects include the recently commissioned 90 MW Omkareshwar floating solar project, the country’s first grid-scale solar and storage project, and the implementation of decentralized distributed generation packages for remote villages.