L&T Technology Services Ltd (LTTS), the engineering and R&D services (ER&D) arm of infra conglomerate Larsen & Toubro, said that it has set up a new design and development centre in Chennai. The centre will be dedicated to a key engineering partner, Vestas, a Denmark-based manufacturer of wind turbines and solutions for the wind industry.
LTTS' R&D centre is expected to help shape cost-effective engineering solutions in renewable energy, the company said. The focus is said to be hybrid energy, smart products, and effective energy storage - storage being a crucial issue for renewables since energy generation is erratic, and based on resource availability.
Vestas has been a strategic engineering partner for L&T for over a decade, according to Bhupendra Bhate, Chief Digital Officer, L&T Technology Services Ltd. LTTS has some experience in this space in both solar and wind power. LTTS had listed on Indian stock markets in September 2016. The company's share price has been trending lower than its listing price, falling substantially since December 2016.