L&T secures mega solar PV plant order worth ₹15,000 Crore

8 Jul 2024 , 02:52 PM

Larsen & Toubro Ltd. said on Monday, July 8, that its renewable subsidiary had finalized ‘mega’ orders with a renowned Middle Eastern developer for the construction of two gigawatt-scale solar PV projects with a combined capacity of 3.5GW.

L&T classified orders between ₹10,000 Crore and ₹15,000 Crore as ‘mega’.

The orders will also involve grid linkages, such as pooling substations and overhead power lines. The company stated that detailed engineering and early building work will begin shortly.

Last month, the business revealed that it had won a solar and storage project contract in India. With the latest major orders from the Middle East, L&T’s renewables portfolio is on track to achieve 22 GWp cumulative capacity, which includes both commissioned and planned solar and wind production projects.

Meanwhile, the company’s chairman and managing director, SN Subrahmanyan, stated that the Middle East is well ahead of the curve in terms of sustainable energy infrastructure and smart lifestyles. These orders are welcome additions to its green portfolio, as it builds the company of the future with next generation technologies, according to him.

Last week, the company’s energy hydrocarbon vertical received an order from ONGC Ltd for the eighth phase of the pipeline replacement project off India’s west coast. L&T classed the order as “significant” with a value ranging from ₹1,000 Crore to ₹2,500 Crore.

At around 1.32 PM, Larsen & Toubro was trading almost flat at ₹3,628.60 per piece, against the previous close of ₹3,627.15 on NSE.

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