Larsen & Toubro on Monday said its renewable energy arm has bagged two orders from a leading developer in the Middle East to build two Gigawatt scale Solar PV plants.
"The renewable arm of Larsen & Toubro (L&T) has finalised mega orders with a leading developer in the Middle East to build two Gigawatt scale Solar PV plants," the company said in a regulatory filing.
L&T did not reveal the financial details of the contract, but as per its project classification, the value of a mega order ranges between ₹10,000 to ₹15,000 crore.
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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 commence shortly, the filing added.
"These orders are welcome additions to our green portfolio, as we build the company of the future with next-generation technologies," L&T Chairman & Managing Director S N Subrahmanyan said.
Larsen & Toubro is a $27 billion Indian multinational enterprise engaged in engineering, procurement, and construction (EPC) projects, hi-tech manufacturing and services, operating across multiple geographies.
Shares of the company were trading at ₹3,600 apiece, down 0.78 per cent on the BSE.