Larsen & Toubro (L&T) plans to invest around $2.5 billion in renewable and green space over the next three to four years. As the globe shifts toward green energy, Subramanian Sarma, senior executive vice-president (energy) at L&T, believes it is the only way for the corporation to take the lead in this area. “We expect to invest up to $2-2.5 billion to begin with, over the next 3-4 years, depending on how the markets evolve,” he says. This would apply to projects involving green hydrogen, solar, and wind energy.”
Larsen & Toubro (L&T) plans to set up a separate team to supply components to offshore wind farms. Sarma said, “This would be to manufacture and supply wind farm components such as the towers. We will not be venturing into making windmill blades, which is being done by original equipment manufacturers.” It is significant that the massive construction company has established Lakshya 2026, its strategic five-year plan, with the goal of reducing its annual greenhouse gas emissions by about 300 tonnes. In addition to closing down non-core operations, this strategy entails expanding digital and e-commerce ventures, creating novel product and service offerings, and putting an emphasis on environmental, social, and governance (ESG) and shareholder value creation. By 2035 and 2040, respectively, the corporation aims to be carbon and water neutral. Derek M. Shah, head of L&T’s green production and development, commented on the current change, saying, “We are looking at the manufacturing of components like electrolysers, storage batteries, and fuel cells. Opportunities for renewable energy are expanding worldwide, not only in India. A joint venture was established earlier this year by Indian Oil Corporation, L&T, and ReNew Power with the goal of growing the country’s emerging green hydrogen market. In the meantime, IOC and L&T established another joint venture (JV) with equity participation to produce and market the electrolysers required for the creation of green hydrogen.
 plans to invest around $2.5 billion in renewable and green space over the next three to four years.){kind=link}