The Renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has secured the go-ahead to begin constructing the 300MW Jeddah Solar PV Power Plant. The turnkey EPC order has been received from the consortium of Masdar, EDF Renewables and Nesma Company.
Awarded by Saudi Arabia's Renewable Energy Project Development Office (REPDO) to the consortium under design, finance, build and operate mode, the project has now attained financial closure after the signing of the power purchase agreement and thereby the notice to Larsen & Toubro to proceed with the construction.
The project is in Third Jeddah Industrial City, 50km south-east of Jeddah. This large utility scale power plant utilizes state-of art technologies including bifacial modules, single axial trackers, string inverters and robots for module cleaning.
Commenting on the development, Mr. T. Madhava Das, Whole-Time Director & Senior Executive Vice President (Utilities), L&T said "We are thankful and happy to be a part of establishing major solar projects awarded under the umbrella of Saudi Arabia's pioneering National Renewable Energy Programme (NREP) marking yet another milestone in our green technology path to enable clean energy transition."
Earlier L&T had announced the major EPC order win for 1.5GW Sudair project in Saudi Arabia.
Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.1345.1 as compared to the previous close of Rs. 1404. The total number of shares traded during the day was 157079 in over 8648 trades.
The stock hit an intraday high of Rs. 1394.5 and intraday low of 1332.2. The net turnover during the day was Rs. 212237163.