Finance, Other, solar

L&T Solar EPC wins Rs 3.73 billion order for construction of Solar PV plants in Rajasthan and Tamil Nadu

L&T continues to build on its Solar EPC success as India’s largest player. The company’s solar business unit, has won new EPC orders worth Rs 373 crores for the construction of Solar PV Plants in Rajasthan and Tuticorin, Tamil Nadu, according to a statement from the company.

Just last week, according to rankings released by IMS Research, Larsen & Toubro Ltd. (Mumbai, India) also appeared in the top 10 ranking, the first time an Indian EPC has done so. Larsen &  Toubro completed almost 200 MW of PV projects in 2012, nearly double the amount completed in the prior year.

Last month, L&T had won  EPC orders worth Rs 413 crores from Kiran Energy for the construction of Solar PV plants in Tamil Nadu.

In April last year, Larsen & Toubro had said that it was looking at grabbing sizeable orders for solar power projects driven by opportunity it sees in the sector and the company then had an order backlog of Rs 350 crore.

“We see a lot of potential in solar power sector and have deep rooted long term plans for this business. Developers are taking up projects and achieving financial closure fast. So orders for engineering, procurement and construction work would also start coming in fast,” S.N. Subrahmanyan, senior executive vice president and board member of L&T had then said.

Since, in November last year, L&T had demonstrated its intention to get big in the ‘Clean and Alternative Energy’ space by appointing an official exclusively to drive that business. The $ 11.7 billion-engineering  transfered  R. Srinivasan as Vice President and Head of Clean and Alternate Energy, under whom, Shaji John-Head Solar, Harshitha Kumar-Head Solar Rooftop, Natarajan-Head Wind and Shankaran-Head security solutions(including SCADA and smartgrid), are now leading the respective initiatives.

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