Larsen & Toubro (L&T) announced on Monday that its renewable energy division has won two significant contracts to build large-scale solar power plants in the Middle East. The projects will have a combined capacity of 3.5 gigawatts.
The company did not disclose the financial details, but based on L&T’s project classification, the value of such mega orders typically ranges between ₹10,000 crore to ₹15,000 crore.
The orders also include setting up grid connections with substations and transmission lines. Detailed engineering and initial construction work are expected to start soon.
“These orders are a great addition to our green portfolio as we advance towards next-generation technologies,” said L&T Chairman & Managing Director S N Subrahmanyan. L&T is a $27 billion Indian multinational company involved in engineering, procurement, construction projects, hi-tech manufacturing, and services worldwide.
As of now, L&T shares are trading at ₹3,600 each, down 0.78% on the BSE.
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