The business has bagged orders to establish two floating solar plants in India. The orders comprise a cumulative floating solar capacity of more than 150 MWac, in addition to a ground-mounted solar PV of 120 MWac capacity. Floating Solar projects involve mounting solar modules on structures that float in a water body, typically a reservoir/ lake/ abandoned quarry.
PT&D has also received orders to establish 765 kV transmission lines and a gas insulated substation to integrate solar energy zones in Rajasthan and Karnataka. These crucial links will enable the evacuation of renewable energy to load centres in various parts of the country.
The business has secured an order in the State of Kuwait to build a 400kV gas insulated substation. This substation will be instrumental in powering the residential clusters being developed as part of South Sabah Al-Ahmad City project.
The Sultanate of Oman is integrating its multiple standalone electricity networks into a 400 kV national grid. As part of the interconnection and grid strengthening, PT&D has received orders to build a 400 kV overhead transmission line and two 400 kV grid stations.
In the United Arab Emirates, the business has secured orders to construct two 132 kV substations with associated works.
T Madhava Das, whole-time director & senior executive vice president (Utilities), Larsen & Toubro, said: “Reliable, clean energy is the preferred form for electricity in propelling the growth of both traditional and emerging industries.
It is heartening to see that the region makes substantial investments in both renewables and grid infrastructure in a timely manner.
Also, solar power and related hybrid technologies witness rapid innovations that are not limited to cell technologies but also encompass project formulation, application areas, design & engineering and construction methods.”
As per L&T’s classification, the value of the said contracts lies between Rs 5,000 crore and Rs 10,000 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 company reported 15.45% jump in consolidated net profit to Rs 2,947.36 crore on 18.84% increase in revenue from operations to Rs 55,127.82 crore in Q3 FY24 over Q3 FY23.
The scrip rose 0.36% to currently trade at Rs 3445 on the BSE.