L&T to build 2 GW solar PV plant in Middle East

The Renewable energy arm of Larsen & Toubro (L&T) has secured a mega energy project in the Middle East, the company informed the exchange in a filing on Monday.

The company stated that it will build two Gigawatt Scale Solar PV plants with a leading developer in the Middle East.The plants will have a cumulative capacity of 3.5 GW (Gigawatt). 

The scope of the orders also includes grid interconnections encompassing pooling substations and overhead transmission lines.

The company highlighted that the engineering and initial construction work of the project will start soon.Additionally, Last month also the company 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 expected to reach 22 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and those in the making.

"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" said T Madhava Das, Whole-time Director & Sr Executive VP (Utilities) - L&T.

The Larsen & Toubro is a USD 27 billion Indian multinational enterprise engaged in EPC (Engineering, Procurement and Construction) Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies.

"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" said S N Subrahmanyan, Chairman & Managing Director - L&T.

The shares of the company stands at Rs 3602.45 on Monday at the time of filing this report.