Power equipment companies changing tack in push for green energy

With the growing emphasis on green energy, domestic power gear manufacturers are evolving strategies to capture the expanding renewable energy portfolio of power generators. Bharat Heavy Electricals (BHEL), Thermax and Larsen & Toubro (L&T), the main suppliers to India’s thermal power companies, are all adapting to the move toward green energy, each in its own way.

Take BHEL, for instance. A decade ago, its main clients were power companies that were predominantly thermal power generators. That has changed. “We are looking at areas which would be less competitive going ahead, learning from the fact that we have been in areas which have become extremely competitive,” Nalin Shinghal, chairman and managing director at BHEL, said in an analyst call in June,