�山ǿ��

The new business vertical will be formed out of the company’s existing power transmission and distribution business and sit within its infrastructure projects segment.

Explaining the move, Larsen & Toubro noted the acceleration of the clean energy trend in recent years.

“Renewable penetration, particularly in solar and wind generation, is set to grow in the global mix. New drivers of electricity demand growth are emerging with stringent reliability and power quality requirements.

“There is a strong momentum in India’s pursuit of promoting renewable energy especially towards increasing the share of non-fossil fuels-based electricity,” the company said.

It also highlighted growth in the Middle East region of solar generation projects, as well as investments materialising in South and Southeast Asia and Africa.

Larsen & Toubro has already been involved in what it claims are some of the world’s largest single-site renewable energy parks. Those include the 700 MW Ar Rass Solar PV and the 2,000 MW Ar Rass-2 Solar PV projects in Saudi Arabia and the 1.6 GW Sudair solar plant.

It is also building power and grid systems for major green hydrogen plants at Neom in Saudi Arabia. It has also recently completed the 90 MW Omkareshwar floating solar project in India recently.

Mr. A. Ravindran, senior vice president – Larsen & Toubro, has been appointed as the head of renewable business.

Commenting on the development Mr S.N.Subrahmanyan, chairman and 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 organisation that is uniquely placed in the value chain of creating sustainable energy infrastructure. This space is promising. Multiple opportunities are visible. We want to capitalise 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.”