Larsen & Toubro Ltd’s shares were up by 1.02 per cent after the company was awarded an EPC contract for the establishment of renewable energy generation, power utilities, and water systems for the Amaala project in the Red Sea region, Saudi Arabia. Amaala is an ultra-luxury tourism destination spanning 4,155 sq km, situated in the Prince Mohammed bin Salman Natural Reserve along Saudi Arabia’s northwestern coast.
The consortium of Masdar, a clean energy powerhouse from the UAE, and French electricity utility EDF, signed the concession agreement for the fully integrated utility project, with the developers of Amaala. Larsen & Toubro (L&T) has entered into an EPC agreement with the sponsors, EDF, and Masdar, making it the turnkey contractor for the project.
The scope of the project, aimed at going beyond sustainability, includes the establishment of an optimised off-grid renewable energy system, featuring a 250MWp Solar PV plant and 700MWh Battery Energy Storage System. The power systems component encompasses biofuel-based internal combustion engines, three Gas Insulated Substations, high voltage transmission lines, and medium voltage distribution networks.
In addition, the water systems aspect involves the construction of a 37 MLD Seawater Reverse Osmosis Plant, 6 MLD Sewage Treatment Plants, marine works, including intake and outfall, tank farms, a potable water network, wastewater network, and treated sewage effluent network.
Shares were up by 1.02 per cent at Rs 3,524.80 at 11.08 am on the BSE.