Larsen and Toubro plans to sell its non-core assets

02 Sep 2021 CW Team

The proposed sale comes at a time when environmental, sustainability, and governance are becoming increasingly important.

The sale of its 99 MW hydropower plant to ReNew Power was also announced in the statement. The Singoli Bhatwari Hydroelectric Project (SBHEP) in Uttarakhand was acquired from L&T Power Development Limited earlier this year, marking ReNew Power's first foray into the hydropower generation space.

Given that coal-fired electricity generation remains the backbone of India's power mix, this is significant. Coal-fired power plants account for 53% of the country's total installed power generation capacity of 202.67 GW.

This comes after ReNew Power Private Limited completed its merger with RMG Acquisition Corp II (RMG II), a Nasdaq-listed special purpose acquisition company (SPAC). The new entity, ReNew Energy Global Plc, has an enterprise value of around $8 billion and an equity value of $4.4 billion as a result of the merger.

Hydropower projects are gaining traction among India's clean energy giants. Greenko, based in Hyderabad, has a 7.3 GW operational portfolio and is building power storage projects with an 8 GW capacity across six Indian states as part of its plan to provide on-demand power.

India also plans to issue a policy to promote hydro pump storage schemes shortly, with a potential capacity of around 96 GW identified. The plan is to raise water to a certain height during off-peak hours, then release it into a lower reservoir to generate electricity.

Pump storage aids the national power grid in coping with fluctuations caused by intermittent solar and wind power.

Image Source

Also read: NIIF negotiates with L&T to invest Rs 4k cr in Hyderabad metro

Also read: Larsen and Toubro achieved consolidated revenues of Rs 29,335 crore

Engineering and construction major Larsen and Toubro (L&T) is planning to sell its non-core assets, including the 1,400 megawatt (MW) Nabha thermal power project in Punjab, the Hyderabad Metro, and L&T Infrastructure Development Projects Limited (L&T IDPL), a subsidiary with road projects and power transmission lines. The proposed sale comes at a time when environmental, sustainability, and governance are becoming increasingly important. The sale of its 99 MW hydropower plant to ReNew Power was also announced in the statement. The Singoli Bhatwari Hydroelectric Project (SBHEP) in Uttarakhand was acquired from L&T Power Development Limited earlier this year, marking ReNew Power's first foray into the hydropower generation space. Given that coal-fired electricity generation remains the backbone of India's power mix, this is significant. Coal-fired power plants account for 53% of the country's total installed power generation capacity of 202.67 GW. This comes after ReNew Power Private Limited completed its merger with RMG Acquisition Corp II (RMG II), a Nasdaq-listed special purpose acquisition company (SPAC). The new entity, ReNew Energy Global Plc, has an enterprise value of around $8 billion and an equity value of $4.4 billion as a result of the merger. Hydropower projects are gaining traction among India's clean energy giants. Greenko, based in Hyderabad, has a 7.3 GW operational portfolio and is building power storage projects with an 8 GW capacity across six Indian states as part of its plan to provide on-demand power. India also plans to issue a policy to promote hydro pump storage schemes shortly, with a potential capacity of around 96 GW identified. The plan is to raise water to a certain height during off-peak hours, then release it into a lower reservoir to generate electricity. Pump storage aids the national power grid in coping with fluctuations caused by intermittent solar and wind power. Image Source Also read: NIIF negotiates with L&T to invest Rs 4k cr in Hyderabad metro Also read: Larsen and Toubro achieved consolidated revenues of Rs 29,335 crore

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..