From L&T to Reliance Industries, giants hitch a ride on the green road

Conventional conglomerates are tying up with new-age companies in the sustainability space

India’s traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities — construction, technology and retailing —  are tying up with new-age companies to hitch a ride