Larsen & Toubro bags 'mega' orders for its renewables portfolio

Larsen & Toubro said that its Renewable arm has finalised mega orders with a leading developer in the Middle East to build two gigawatt-scale solar PV plants with a cumulative capacity of 3.5 gigawatt (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&Ts 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.

 

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.

As per L&Ts classification, the value of the aforementioned order lies between Rs 10,000 crore and Rs 15,000 crore.

Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality has enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

The EPC major's consolidated net profit rose 10.27% to Rs 4,396.12 crore on 14.99% increase in revenue from operations to Rs 67,078.68 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.53% to currently trade at Rs 3609.40 on the BSE.

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