Larsen & Toubro’s (L&T) renewable energy division has secured substantial contracts with an undisclosed Middle Eastern partner to develop Gigawatt-scale Solar PV plants totaling 3.5 GW, the company announced on July 8. The agreement also covers grid interconnections, including pooling substations and overhead transmission lines. Detailed engineering and initial construction are set to begin soon, with the deal valued between Rs 10,000 crore and Rs 15,000 crore, as per filings.
Shares of Larsen & Toubro traded down 0.71% at Rs 3,601.10 on the NSE at 11:43 am. Earlier in June, the company had announced securing an order for a solar-cum-storage plant in India.
The new contracts will bolster L&T’s renewables unit, increasing its portfolio to 22 GWp cumulative capacity, encompassing both commissioned and forthcoming solar and wind projects. Chairman & MD S N Subrahmanyan emphasized the strategic importance of these orders in advancing sustainable energy infrastructure, while T Madhava Das, Whole-time Director & Senior EVP (Utilities), highlighted L&T’s capabilities in engineering, project management, and customer trust.
