L&T finalises mega orders for Solar Plants in the Middle East

The Renewable arm of Larsen & Toubro (L&T) has finalised mega orders with a leading developer in the Middle East to build two Gigawatt scale Solar PV plants. The plants will have a cumulative capacity of 3.5 GW.

The scope of the orders also includes grid interconnections encompassing pooling substations and overhead transmission lines. Detailed engineering and initial construction work are expected to commence shortly.

Last month, L&T announced having won a solar-cum-storage plant order in India. Now, with the fresh mega orders from the Middle East, L&T's renewables portfolio is poised to reach 22 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and those in the making.

Mr T Madhava Das, Whole-time Director & Sr Executive Vice President (Utilities) - L&T, said: "The successive order wins stand testimony to our proven engineering and project management capabilities to meet the requirements in terms of plant performance, workforce mobilisation, safety, quality and timeline. We cherish this level of customer trust".

Commenting on the mega orders, Mr S N Subrahmanyan, Chairman & Managing Director - L&T, said: "The Middle East is far ahead in creating sustainable energy infrastructure and in providing a smart lifestyle. These orders are welcome additions to our green portfolio, as we build the company of the future with next-generation technologies."

Shares of Larsen & Toubro Limited was last trading in BSE at Rs. 3574.20 as compared to the previous close of Rs. 3614.80. The total number of shares traded during the day was 139999 in over 11449 trades.

The stock hit an intraday high of Rs. 3643.45 and intraday low of 3567.00. The net turnover during the day was Rs. 505455175.00.

Source : Equity Bulls

Keywords

LarsenandToubro INE018A01030 LandT RenewableBusiness OrderWin MiddleEast SolarPVPlants