Such a massive investment in the green energy sector depends on how the market develops.
Hazira:
Engineering major Larsen & Toubro is committed to working across the green energy value chain and plans to invest up to USD 2.5 billion over the next 3-4 years, a company official said.
Such a massive investment in the green energy sector depends on how the market develops.
The statement comes in the wake of Larsen & Toubro’s (L&T) plan to achieve water and carbon neutrality by 2035 and 2040 respectively.
“We are looking at an investment of $2-2.5 billion to start within three-four years,” said Subramaniam Sarma, the company’s whole-time director and senior executive vice president (energy).
The company, which plans to foray into the clean energy sector on a large scale, aims to foray into manufacturing of key technological devices that include electrolysers, advanced cell batteries and fuel cells, said Derek, L&T Senior Vice President and Head of Green Energy Business. can be. M Shah said.
“So, it’s part of the value chain,” he explained.
He added that the other part of the value chain is Engineering, Procurement and Construction (EPC) projects from which the company is planning to foray into large scale EPC projects in the green energy sector.
“There are many customers who are coming out now. Be it refineries or possibly gas authorities, there will be steel plants,” Mr. Shah explained.
Indian Oil Corp Ltd, Larsen & Toubro and Renew Power have agreed to form a joint venture company to develop green hydrogen projects across the country and capitalize on the government’s ambitious plans for the sector.
He emphasized, “We are in a joint venture with two other reputed companies and we intend to be in the area of growth and in our language, growth means that we will create wealth through our own investments. “
He added that the company will also create these green assets and will be at this location across the entire value chain.
Leveraging its offshore expertise, the company’s hydrocarbon business is developing part of the team to focus on emerging business opportunities in offshore wind farms, which will meet renewable energy requirements and balance the portfolio.
“At present, it is a team of 15-20 people but very experienced and knowledgeable. Once we get the opportunity, we can grow rapidly within the power, hydrocarbon and energy segment. We have a lot of potential What we can add is this,” said Mr. Sarma.