L&T gains as arm ink MoU with John Cockerill to explore various technologies

Larsen & Toubro (L&T) rose 1.98% to Rs 3,485 after its subsidiary, L&T Energy Green Tech and John Cockerill signed a memorandum of understanding (MoU) to explore various technologies in concentrated solar power (CSP) and thermal energy storage (TES).

The MoU aims to identify and develop strategic collaboration opportunities in manufacturing, component supply, and engineering solutions that are critical to the successful implementation and deployment of concentrated solar power (CSP) and thermal energy storage (TES) projects.

LTEGL, a wholly owned subsidiary of L&T, is dedicated to sustainable energy solutions, including green hydrogen, its derivatives, and electrolyzer manufacturing. Centered on its three core business pillars development, manufacturing, and EPCLTEGL offers integrated solutions across the green energy value chain through advanced technology, strategic partnerships, and dedicated R&D.

Subramanian Sarma, Whole-Time Director & President (Energy), L&T, said, L&T remains committed to accelerating the adoption of next-generation green energy technologies. Ensuring round-the-clock availability of renewable power is crucial for driving the global energy transition. Our collaboration with John Cockerill marks a significant step in this direction, combining L&Ts end-to-end expertise in manufacturing, EPC, and services with John Cockerills global leadership in energy.

Thomas Bohner, CEO of John Cockerill Energy, commented, We are extremely happy to partner with LTEGL in exploring and leveraging opportunities to make Indias manufacturing sector sustainable and efficient. Our CSP and TES technologies are leading the way for renewable and dispatchable power and heat projects, from small to large scale, on- and off-grid, on a worldwide basis.

With our expertise and references, including five state-of-the-art solar thermal receivers for concentrating solar power plants in the United Arab Emirates, China, Chile, and South Africa, we are confident that this partnership with LTEGL will enable us to deliver these offerings to companies in India that are actively pursuing low-carbon energy solutions."

Derek Shah, Senior Vice President & Head, L&T Energy - Green Manufacturing & Development, said, Partnering with John Cockerill and leveraging its expertise in CSP and TES technology allows us to integrate advanced energy storage solutions with our robust engineering and manufacturing capabilities. By leveraging these synergies, we aim to accelerate the deployment of green RTC power generation, driving the shift towards a greener, more sustainable energy future.

Vivek Bhide, Regional President and Group Transformation Officer, John Cockerill, added, Indian businesses are increasingly partnering with the government in supporting its move towards sustainable energy adoption and net-zero commitments. Our CSP and TES technology will aid this transition and deliver reliable and sustainable energy solutions to Indian businesses. We are grateful for LTEGLs partnership and look forward to collaborating with them in bringing this world-class technology to India.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Larsen & Toubro reported a 13.96% increase in consolidated net profit to Rs 3,358.84 crore in Q3 FY25 compared with Rs 2,947.36 crore in Q3 FY24. Revenue from operations jumped 17.31% YoY to Rs 64,667.78 crore in Q3 FY25.

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