L&T to enter African power sector

Infrastructure firm Larsen & Toubro (L&T) on Thursday said it would form a joint venture (JV) company with South Africa-based Befula Investments and explore opportunities in the African nation's power sector.

L&T and Befula Investments have signed an agreement to form Larsen & Toubro T&D SA, a company release said.

The JV company would capitalise on the power transmission and distribution opportunities in the country, it said.

The installed power capacity of South Africa is close to 44,000 megawatt and the current peak-demand shortage is about 3,000 megawatt, expected to grow six per cent every year.