L&T branches out to renewables amid energy transition led growth
05 Sep 2024
Engineering and construction major Larsen & Toubro (L&T) has announced the formation of a separate division for renewable energy business, starting 1 September 2024, amid an increase in the share of renewable energy related orders in its power transmission and distribution business.
With the government’s push for clean energy and a general awareness among people about the role of pollutants in global warming, the share of renewable energy in L&T’s power transmission infrastructure business has increased substantially.
This, according to L&T, necessitated the carving out of a separate vertical in its EPC (Engineering, Projects and Construction) for power transmission and distribution business, within the infrastructure projects segment.
Clean energy transition has accelerated in recent years with decarbonization efforts across the globe and this trend is set to grow with changing power quality requirements, says L&T.
Considering the rapid development in technology for renewable power generation, especially in solar and wind, and the spatial and temporal variability of renewable energy sources, L&T said it would follow a hybrid approach of combining different sources and energy storage systems, so as to ensure on-demand supply and dispatch of consumables, it added.
Besides infrastructure projects, L&T said, it would have to be flexible enough to service energy-only markets, or capacity markets that are expected to evolve.
For India specifically, the over dependence on oil imports necessitates a constant pursuit of renewable energy with a view to increase the share of non-fossil fuels-based energy. Green growth is also the cornerstone of India achieving the Viksit Bharat vision and climate goals.
L&T, already a leading global operator with a vast experience of implementing renewable EPC of 22 Gwp. It has implemented a number of renewable projects like Ground Mounted Solar, Floating Solar and Wind Balance of Plant. It also has a 3GWh Battery Energy Storage System. Combined with L&T’s Grid and Digital Energy Solution under implementation.
L&T is already a leading player globally with a vast portfolio of 22 GWp of renewable EPC experience. In addition to Ground Mounted Solar, Floating Solar and Wind Balance of Plant projects further, L&T’s Battery Energy Storage System implementation aggregates to 3GWh.
L&T is associated with some of the world’s largest single-site renewable energy parks, which include the 700 MW Ar Rass Solar PV IPP, the 2,000 MW Ar Rass-2 Solar PV IPP, and the 1.6 GW Sudair solar plant. It has also received orders for another two plants with an aggregate capacity of 3.5GWac.
L&T is also working on Phase 6 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, UAE.
Within the country, L&T has constructed some of the iconic renewable energy projects such as the 90MW Omkareshwar Floating Solar project.
