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L&T Infra bets on solar power

BS Reporter  |  Kolkata/ Bhubaneswar 

L&T Infrastructure Finance Ltd promoted by engineering and construction conglomerate L&T Ltd, is betting big on the solar energy sector in the power portfolio which accounts for nearly 37 per cent of its total business.

“Solar energy is very much in demand in the country and has very good potential for growth. This segment is set to be a key driver of growth in our power portfolio which has a share of 36.7 per cent in our total business. Besides solar projects, the company is also financing captive power plants that are also coming up in a big way in the country,” said G K Shettigar, vice president, L&T Infrastructure Finance.

Next to power sector is roads sector which contributes 14.9 per cent to the company's business followed by telecom at 12 per cent.

L&T Infrastructure's total advances to all sectors stood at Rs 8719 crore by the end of September. Shettigar declined to comment on targeted advances for this fiscal, citing restrictions of market regulator Securities & Exchange Board of India (Sebi).

The company is issuing tranche I bonds through a public issue of long-term infrastructure bonds with a face value of Rs 1,000 each in the nature of secured, redeemable, non-convertible debentures having benefits under Section 80CCF of the Income Tax Act-1961.

First Published: Wed, December 14 2011. 00:22 IST