L&T Pursues Lucrative Offshore Wind Contracts Overseas.

Larsen & Toubro (L&T) recently secured its first international contract in the offshore wind sector, valued at $100 million, marking a significant step into this new business area. The engineering giant is eager for more opportunities, with expectations to expand further in the offshore wind market. While details of the contract remain limited, Subramanian Sarma, Wholetime Director and President-Energy, indicated more information would be shared in the coming months.

The contract reportedly involves supplying jackets for offshore structures—steel frameworks anchored to the seabed that support wind platforms. With decades of experience providing similar structures for the oil and gas industry, L&T aims to apply this expertise to the offshore wind sector.

Following this success, L&T has bid on additional contracts worth between $500 million and $1 billion. In a recent investor call, the company described the $100 million order as a "good start" and highlighted its prestige.

In response to its growing ambitions, L&T has established a dedicated Offshore Wind Business. According to the company’s 2023-24 annual report, this new division aims to offer end-to-end solutions for HVAC/HVDC substations and wind turbine foundations, catering to both fixed and floating structures worldwide. The report also emphasizes strategic partnerships with key industry stakeholders, supported by advanced fabrication facilities in Oman and India.

L&T is also collaborating with electrical technology firms and floating foundation providers to offer comprehensive solutions, as it positions itself for future tenders in Europe and the U.S., where demand for offshore wind projects is increasing.

HBL