L&T Wins Solar PV Projects In Middle East

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Valued at Rs 100-150 billion, L&T’s renewables division secured orders for two solar projects in the Arab world, significantly boosting its green portfolio.

On Monday, the Indian multinational Larsen & Toubro announced a recent solar project deal signed with a ‘prominent’ developer in the Middle East.  As stated in the regulatory filing, the company will develop two solar PV plants with a total capacity of 3.5 GW.

L&T did not disclose the financial specifics of the contract, but according to its project classification, the value of a large order falls between Rs 100 and Rs 150 billion. Besides, the exact location of these projects and the project authority’s name have yet to be revealed.

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According to the company, engineering and initial construction will soon begin. The orders also cover grid interconnections, including pooling substations and overhead lines.

L&T Chairman & Managing Director S. N. Subrahmanyan stated that these orders provide an opportunity to enhance their green portfolio and advance towards creating a future-focused company with cutting-edge technologies.

 “The successive order wins stand testimony to our proven engineering and project management capabilities to meet the requirements regarding plant performance, workforce mobilisation, safety, quality and timeline,” commented T Madhava Das, Whole-time Director and Senior Executive Vice President (Utilities), L&T.

Larsen & Toubro is a $27 billion multinational involved in engineering, procurement, and construction (EPC) projects, advanced manufacturing, and services across various regions.

The company’s shares were trading at Rs 3,600 each, a decrease of 0.78 per cent on the Bombay Stock Exchange.

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