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

Larsen & Toubro’s (L&T) renewable energy unit has secured a massive power project in the Middle East, the company said in a filing with the stock exchange on Monday.

The company said it will build two gigawatt-capacity solar power plants in partnership with a leading developer in the Middle East.

The total capacity of the power plant will be 3.5 GW (gigawatts). The scope of orders also includes grid connections including collection stations and overhead transmission lines.

The company stressed that engineering and preliminary construction work on the project will begin soon.

In addition, last month, the company also announced that it had won an order for a solar-storage plant in India. Now, with the new mega orders from the Middle East, L&T’s renewable energy portfolio is set to reach a total capacity of 22 GWp (gigawatt peak), comprising solar and wind power projects already operational and those under development.

“These consecutive order wins are a testament to our proven engineering and project management capabilities in meeting the requirements of plant efficiency, manpower mobilisation, safety, quality and schedule. We value this level of trust from our customers,” said T Madhava Das, Whole Time Director and Senior Executive Vice President (Utilities), L&T.

Larsen & Toubro is a $27 billion Indian engineering, procurement and construction (EPC), advanced manufacturing and services company with operations across multiple geographies.

“The Middle East is miles ahead of us in creating sustainable energy infrastructure and enabling smart lifestyles. These orders are a welcome addition to our green portfolio as we build a future-proof company with next-generation technologies,” said SN Subrahmanyan, chairman and managing director, L&T.

The company’s shares amount to ₹3,602.45 on Monday at the time of filing this report.