L&T bags order to set up 1.5 GW solar plant in Saudi Arabia
Mumbai, Maharashtra: Engineering and construction major Larsen & Toubro's power transmission and distribution business have secured a contract to set up a 1.5 gigawatt (GW) solar plant in Riyadh province of Saudi Arabia. The project will be the largest solar plant in Saudi Arabia with a power purchase agreement (PPA) signed and also one of the largest such plants in the world.
The order is from the consortium of ACWA Power and the Water and Electricity holding company -- a subsidiary of the Public Investments Fund (PIF) of Saudi Arabia. "With several GWs of solar engineering, procurement, and construction (EPC) experience, L&T has emerged as a global technology player for solar plants," said Chief Executive Officer and Managing Director S N Subrahmanyan.
L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing, and services with over 21 billion dollars in revenue. It operates in over 30 countries worldwide.
