- 09 Jul 2024
- ICICI Securities
L&T HAS BAGGED MEGA ORDERS FOR SOLAR PLANTS IN THE MIDDLE EAST
LT - 3583 Change: 139.10 (4.04 %)News: L&T has bagged mega orders for Solar plants in the Middle East. L&T has classified order as a ‘Mega’ order meaning order value is between ₹10,000 - ₹15,000 crore. The renewable arm of L&T has finalized order with a leading developer in the Middle East, for two Solar PV plants of gigawatt scale. The plants will have a cumulative capacity of 3.5 GW. The scope of the orders also includes grid interconnections, encompassing pooling substations and overhead transmission lines. Detailed engineering and initial construction work are expected to begin shortly.
Views: With this order, the total renewables portfolio is poised to reach 22 GWp (Gigawatt peak) cumulative capacity, comprising solar and wind energy projects. The order inflow provides revenue visibility over 2-3 years and will help the company achieve its growth target going forward.
Impact: Positive