L&T creates renewable business vertical

New Delhi: Infrastructure major Larsen & Toubro (L&T) on Monday said it has created a separate renewable business vertical.

A Ravindran, Senior Vice President - Larsen & Toubro, has been appointed as the head of renewable business, L&T said in a statement.

PSU Watch is now on Whatsapp Channels. Click here to join

"Effective September 1, 2024, Larsen & Toubro has carved out a separate business vertical for renewable EPC out of its power transmission and distribution business, within its infrastructure projects segment," it said.

"The growth of renewable EPC (engineering procurement and construction) 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," S N Subrahmanyan, Chairman & Managing Director, Larsen & Toubro, said.

Larsen & Toubro is a USD 27 billion Indian multinational engaged in EPC projects, hi-tech manufacturing, and services, operating across multiple geographies.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)