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L&T order for the creation of a solar power plant in Saudi Arabia

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Larsen & Toubro shares came out of their intraday lows and fell 1 percent to Rs 1,419.

The Renewables branch of the Power Transmission & Distribution division of Larsen & Toubro has been awarded a turnkey engineering, procurement and construction (EPC) contract with Saudi Arabia for the construction of the Sudair solar PV project of a capacity of 1.5 gigawatts, Larsen & Toubro said in a press release. “This project is considered the largest solar power plant in Saudi Arabia with the signing of a PPA. It is also one of the largest such factories in the world,” Larsen & Toubro said in a filing by stock Exchange.

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The project will be launched in the Kingdom’s Riyadh Province and has a 30.8 square kilometer plot of land available to install a total capacity of 1.5 GW photovoltaic solar modules with a single axial tracker and associated inverters.

“With several GWs of solar EPC experience, L&T has become a global technology player for solar power plants,” said SN Subrahmanyan, CEO and Managing Director of Larsen & Toubro.

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Following the announcement, shares of Larsen & Toubro came out of their intraday lows and fell 1 percent to Rs 1,419.

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