L&T Bets Big on Nuclear Energy, Eyes 3x Revenue Growth

Larsen & Toubro (L&T) is stepping up its focus on nuclear energy, expecting its revenue from this segment to grow nearly three times over the next five years. The company’s outlook reflects the renewed global interest in nuclear power as countries look for reliable and cleaner energy sources.

According to company officials, the growth projection depends on how quickly nuclear projects move from planning to execution. This strategy also aligns with India’s long-term energy transition plans, which aim to significantly expand nuclear power capacity—from about 8.8 GW today to nearly 100 GW by 2047.

L&T has been a key partner in India’s nuclear programme for decades, contributing to the manufacturing of critical components and supporting technology development. The company plans to build on this experience, especially through its Hazira facility, which already has the capacity to scale up production without requiring major new investments.

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The company has clarified that it will not enter the business of owning or operating nuclear power plants. Instead, it will continue to focus on engineering procurement and construction (EPC) services, along with manufacturing and project execution. It is also exploring opportunities in plant servicing as policies and regulations evolve.

Globally, nuclear energy is gaining attention again as a dependable low-carbon energy option that can complement renewable sources like solar and wind. The rapid growth of power-intensive sectors such as artificial intelligence and data centres is also increasing the need for stable, round-the-clock electricity—something nuclear energy can provide.

In addition to domestic opportunities, L&T is looking at international markets to expand its nuclear business by supplying equipment and participating in global projects. However, the sector still faces challenges, including high costs, regulatory hurdles and long approval timelines.

Overall, L&T’s push into nuclear energy highlights its effort to strengthen its position in the clean energy space while supporting future energy demands both in India and globally.