L&T Eyes Itochu Investment in Green Energy Arm, Bets on Kandla Export Hub
What Happened
Larsen & Toubro (L&T) is in discussions with Japan's Itochu Corporation to sell a minority stake in its clean energy arm, L&T Energy GreenTech Ltd (LTEGL). The companies are also partnering on a 300,000-tonne-per-year green ammonia project at Kandla in Gujarat, with Itochu exploring both equity participation and long-term offtake arrangements. L&T is positioning Kandla as a strategic export hub for green hydrogen derivatives. The green ammonia produced at the facility is expected to support Itochu's marine fuel and bunkering operations in Singapore and other international markets.
Key Takeaways
The proposed deal could bring strategic foreign investment into L&T's clean energy business while strengthening India's ambitions to become a major exporter of green fuels and ammonia.