L&T to set up $1.8 bn solar plants in Middle East

DUBAI: The renewable arm of India’s Larsen & Toubro (L&T) has finalised mega orders to set up two gigawatt-scale solar PV plants in the Midddle East.

The plants will have a cumulative capacity of 3.5 gigawatts (GW), the company said in a statement on the Bombay Stock Exchange on Monday.

The value of the contract was not given but the statement categorised the award as ‘mega,’ in the 100 billion Indian rupees to INR 150 billion range ($1.2 billion-$1.8 billion). No country names were given.

The scope of the orders includes grid interconnections encompassing pooling substations and overhead transmission lines.

Detailed engineering and initial construction work are expected to commence shortly.

The new orders from the Middle East will take L&T’s renewables portfolio to 22 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and those in the making.