L&T plans invest $12 bn in green energy

Larsen & Toubro Ltd. plans to invest as much as $12 billion over the next five years, a third of which will go toward expanding its clean energy business.

The company intends to build 2-3 million tonnes of green hydrogen and ammonia capacity with an investment of close to $4 billion. L&T has approached some coastal states in India to acquire 500-1,000 acres of land for hydrogen facilities, This was disclosed by Chief Executive Officer SN Subrahmanyan, who will take charge as group chairman in October when veteran AM Naik retires