Larsen & Toubro (L&T), a leading Indian conglomerate, has announced plans to carve out its renewable energy engineering, procurement, and construction (EPC) business into a separate entity. However, the company has clarified that there are no immediate plans to list the new entity.
The move is aimed at unlocking value and enabling the renewable EPC business to operate independently, with its own management and governance structure. The carved-out entity will focus on solar, wind, and hydroelectric power projects, and will be well-positioned to capitalize on the growing demand for renewable energy.
L&T’s renewable EPC business has grown significantly in recent years, with a strong order book and a pipeline of projects across India and internationally. The company has established itself as a leading player in the renewable energy sector, with a reputation for delivering high-quality projects on time and within budget.
The carve-out is expected to be completed within the next 12-18 months, subject to regulatory approvals. L&T has stated that the new entity will be adequately capitalized and will have the necessary resources to pursue growth opportunities.
