Indian oil and gas giant eyes UK renewables move

In the run up to the launch of L&T’s new subsidiary Water & Renewable Energy Independent Company in April, the group said it would target substantial growth in the water and renewable energy sectors, particularly identifying opportunities in the Gulf regions.

‘We are addressing offshore wind farms in India, and also doing photovoltaics as well,’ said Emsley. ‘We may even do anaerobic digestion…[the company] believes it can make offshore wind jackets to address the UK offshore wind market and apply its expertise in offshore oil operations to the renewables market.’

Emsley cited the UK government’s delay on firming-up plans for a feed-in tariff with contracts for difference as a major stumbling block for companies such as L&T that are keen to participate in the European renewable energy sector.

‘[L&T] looked at [the offshore wind industry] three years ago and all they saw was procrastination on the part of government,’ he said. ‘Nothing’s happening; it’s a vacuum. Until money is changing hands, we won’t [commit].’