The renewable arm of Larsen & Toubro (L&T) has finalised mega orders with a leading developer in the Middle East to build two gigawatt-Gigawatt scale Solar PV plants
A major Middle Eastern developer has placed two orders with Larsen & Toubro's renewable energy division to build two gigawatt-scale solar photovoltaic plants.
In a regulatory filing, the company stated that "Larsen & Toubro's (L&T) renewables arm has finalised mega orders with a leading Middle Eastern developer to build two gigawatt-gigawatt scale Solar PV plants."
The contract's financial details were not disclosed by L&T; however, based on the project classification, a mega order can be valued anywhere from Rs 10,000 to Rs 15,000 crore.
The combined capacity of the plants will be 3.5 GW.
Grid interconnections involving overhead transmission lines and pooling substations are also included in the orders' scope.
The filing also stated that detailed engineering and preliminary construction work are anticipated to start soon.
L&T Chairman & Managing Director S N Subrahmanyan stated, "These orders are welcome additions to our green portfolio, as we build the company of the future with next-generation technologies."
An Indian multinational corporation valued at USD 27 billion, Larsen & Toubro operates globally and specialises in engineering, procurement, and construction (EPC) projects, high-tech manufacturing, and services.