L&T set to enter solar power generation
In a bid to expand its offering in the green energy technology space, Larsen and Toubro Ltd (L&T) is turning to solar power generation that includes nuclear and hydel power.
The company is in talks with two firms to make machinery for solar panels.
Environment-friendly energy technology has attracted firms such as Wipro Ltd, Tata BP Solar India Ltd and Reliance Industries Ltd.
Global interest in renewable energy such as solar and wind power has grown in recent years because of rising crude oil prices. The government has also announced subsidies for firms that generate electricity from solar panels.
Moreover, the easy availability of technologies such as photovoltaic cells and solar thermal power generation will help firms set up renewable energy projects and win carbon credits.