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

Real Estate

30 Jul 2026

AI: The New Recruit

From getting ideas to evaluating designs, presenting concepts to clients and tracking projects, artificial intelligence (AI) is helping architects work better and faster.“AI allows architects to spend more time doing what only they can do: think critically, synthesise complexity and design with intent,” says Dikshu C Kukreja, Managing Principal, CP Kukreja Architects. “Every minute reclaimed from repetitive processes can be invested in creativity, contextual understanding, interdisciplinary collaboration and innovation – the qualities that define meaningful architecture.”To read the ..

Real Estate

30 Jul 2026

Redevelopment 2.0

In 2017, Mumbai identified 160,000 ageing buildings due for structural audit. Close to half of these were in the Western Suburbs. Redeveloping the oldest and structurally weakest of these would help unlock new housing, much needed given the city’s growing population density and constant developed area of 437.7 sq km. At 30,600 people per sq km in 2024, Mumbai’s density was almost thrice that of Gurugram, and 60 per cent higher than Bengaluru’s.Essentially, Mumbai’s realty market has demand. It has capital. It has realty development potential.Fast forward to 2026. Mumbai has 1,094 regis..

Technology

30 Jul 2026

Cost intelligence will become a strategic contributor to project success

As India's construction industry accelerates its digital transformation, integrated platforms, AI and connected data are becoming essential to improving cost certainty, project efficiency and sustainability. Ravi Kumar, Sales Director – India, RIB Software India, shares how digital workflows are reshaping project planning, commercial management and decision-making across the construction value chain.India's construction sector is embracing digital technologies at an unprecedented pace. From your perspective, what are the biggest shifts driving this transformation and how is RIB Software enab..