Larsen and Toubro on Wednesday, May 8, said its power transmission and distrbution business has won “major” orders in India and overseas.
As per the company’s classification, orders in he range of ₹5,000 crore to ₹10,000 crore are classified as ‘major’.
Read More: Air India Express to allow passengers to reschedule flights amid cabin crew ‘shortage’
The orders include establishing two floating solar plants in India. “The orders comprise a cumulative floating solar capacity of over 150 MWac, in addition to a ground-mounted solar PV of 120 MWac capacity,” the company said in a stock exchange filing.
It said that floating solar projects involve mounting solar modules on structures that float in a water body, such as a reservoir, quarry, or lake. In comparison to the ground-mounted solar plants, the floating ones do not require land acquisition and usually involve less civil work. It said there are other site-specific merits too, besides reduction of water evaporation.
Read More: Gold Rate Rises In India: Check 22 Carat Price In Your City On May 08
L&T’s power transmission and distribution business also received orders to establish 765 kV transmission lines and a gas insulated substation to integrate solar energy zones in Rajasthan and Karnataka. These links will enable the evacuation of renewable energy to the load centres in different parts across the country.
The business also secured another order from Kuwait to build a 400 kV gas insulated substation, which will be instrumental in powering the residential clusters being developed as part of the South Sabah Al-Ahmad City project.
Read More: India Sees Rise Of Ghost Malls, Is Online Shopping Killing Offline Centres? Check Report
The power transmission and distribution business of L&T also received orders to build a 400 kV overhead transmission line and two 400 kV grid stations as part of Oman’s interconnection and grid strengthening project. Oman is integrating multiple of its standalone electricity networks into a 400 kV national grid.
Lastly, in the UAE, the L&T business has secured orders to build two 132 kV substations with associated works.
L&T’s whole-time director and senior executive vice-president (utilities), T Madhava Das, said solar power and related hybrid technologies witness rapid innovations that are not limited to cell technologies but also encompass project formulation, application areas, design and engineering and construction methods. “We are proud to be at the forefront of implementing such technologically advanced projects of critical nature,” he said.
Prior to this, L&T had reported in March that its subsidiary L&T GeoStructure had secured multiple orders across the country in ₹1,000 crore to ₹2,500 crore range.
L&T shares were trading with losses for the fourth consecutive day on Wednesday, May 8. The stock was down 1.07% at ₹3,391.05 apiece at 10.25 am. The stock has dropped 10.93% in the past month.
