The renewables arm of Larsen & Toubro's Power Transmission & Distribution Business has secured a turnkey EPC Contract worth Rs 5,000-7,000 crore, to set up the Sudair Solar PV Project of 1.5 GW capacity in Saudi Arabia.
In a statement, L&T said it has received the contract from the consortium of ACWA Power and the Water and Electricity Holding Company, a subsidiary of the Public Investments Fund (PIF) of Saudi Arabia.
Describing the project as one of the the largest solar PV plants in the world, L&T said that it coming up in Riyadh province and would have a 30.8 square km land parcel available to install a total capacity of 1.5GW PV Solar modules with associated single axial tracker and inverters.
As part of the National Renewable Energy Programme (NREP), Sudair Solar PV Project has been awarded to the PIF and its partner, ACWA Power.
This project is part of the 70 per cent of the target capacity of 58.7 GW of the kingdom, assigned to the PIF, while Renewable Energy Project Development Office (REPDO) would undertake competitive tendering for the remaining 30 per cent, it said.
"With several GWs of solar EPC experience, L&T has emerged as a global technology player for solar plants. Securing this project is a major milestone in our clean and green energy path to fight the climate crisis that the world faces," said S.N. Subrahmanyan, CEO and Managing Director, Larsen & Toubro.