L&T’s arm bags order to set up solar power project in Saudi Arabia
The Renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has bagged an order to set up Sudair solar power project of 1.5 GW in Riyadh province of Saudi Arabia.
The company did not disclose the value of the contract, but said the orders fall under the “major” category, which ranges between Rs 5,000 crore and Rs 7,000 crore, according to the classification of contracts.
The Renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has secured a turnkey EPC contract, from the consortium of ACWA Power and the Water and Electricity Holding Company for Sudair Solar PV Project of 1.5GW capacity, a company statement said.
According to statement this project is considered the largest Solar Plant in Saudi Arabia with power purchase agreement (PPA) signed. It is also one of the largest such plants in the world.
The EPC (engineering procurement construction) contract, was awarded by the consortium of ACWA Power and the Water and Electricity Holding Company, a subsidiary of the Public Investments Fund of Saudi Arabia (PIF).
“We have been building efficient power transmission and distribution networks with modern substations and transmission lines in this region for more than two decades. This is yet another recognition of our capabilities to construct mega projects to speed and scale,” T Madhava Das, Whole-Time Director & Senior Executive Vice President (Utilities), L&T said.
The project that is coming up in Riyadh Province has a 30.8 square kilometre land parcel available to install a total capacity of 1.5GW PV Solar modules with associated single axial tracker and inverters.
“With several GWs of solar EPC experience, L&T has emerged as a global technology player for solar plants,” said S N Subrahmanyan, CEO & Managing Director, Larsen & Toubro in the statement.
L&T has been a provider of EPC services for several green projects in recent years. The L&T has over 2.1 GW of Utility Scale Solar projects commissioned and are also operating and maintaining several of them.
Larsen & Toubro is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services with over USD 21 billion in revenue. It operates in over 30 countries worldwide.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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