India’s L&T Finance mulls wind, solar in Andhra Pradesh – report

The head of L&T Finance Holdings Ltd (BOM:533519) has asked the Andhra Pradesh government to clarify its wind power policy because the Indian firm intends to invest in both solar and wind projects there.

L&T Finance’s chairman and managing director Yeshwant Moreshwar Deosthalee has met with chief minister N Chandrababu Naidu to discuss the matter, the Business Standard reported on Friday, quoting the chief minister’s office.

The company’s move follows Naidu’s call on the corporate sector to adopt all 16,000 villages in the state under corporate social responsibility (CSR) programmes, so as to develop the basic amenities there. L&T Finance has committed to adopt two villages, the newspaper said.

The firm is promoted by local diversified group Larsen & Toubro Ltd (BOM:500510). The conglomerate has installed or is working on more than 400 MW of solar photovoltaic (PV) and concentrated solar power (CSP) projects, including commissioned and under construction plants, in India.

Article Source:
India’s L&T Finance mulls wind, solar in Andhra Pradesh – report; by Ivan Shumkov of SeeNews Renewables – December 31st, 2014