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L&T mulling foray into wind power

According to reports, Business conglomerate Larsen and Toubro is planning a foray into wind-based power projects, a company official said.

“We are presently looking at wind-based power projects,” L&T Infrastructure,’s the infrastructure finance division of Larsen and Toubro, Chief Executive Suneet K Maheshwari told reporters here.

Asked whether the company is also looking at solar power projects, he said, “We have not done (any projects) in solar (power) yet”.

L&T Finance Holdings President and Wholetime Director N Sivaraman said that the renewable energy sector has huge potential globally.

“Globally, there will be opportunities for companies to enter this area,” he said.

The company officials were here to announce the Rs 1,100 crore retail tax-saving long term infrastructure bonds.

The 10-year maturity bonds, with a coupon rate of nine per cent hit the market on November 25. It will close on December 24 and can be traded after a five-year lock-in period.

To save income tax, an individual can invest up to Rs 20,000 on the issue.

The funds raised would be utilised towards infrastructure lending and would be eligible for capital allocation in accordance with the statutory and regulatory requirements of the Reserve Bank of India and the Finance Ministry.

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