The Engineering Procurement and Construction (EPC) company Larsen & Toubro (L&T) Construction has bagged two grid-connected solar photovoltaic (PV) projects worth ₹5.9 billion (~$92 million) to be developed in the states of Tamil Nadu and Rajasthan.
The first project has been awarded to L&T by the NLC India Limited (NLCIL) for setting up of a 100 MW solar project in the state of Tamil Nadu.
“This is one of the largest solar orders the business has secured from a Navratna enterprise of the government of India,” the company said in a media release announcing the order.
Recently, the state-owned NLCIL successfully commissioned 130 MW solar project in Tamil Nadu. According to Mercom’s India Solar Project Tracker, NLC India has commissioned solar projects aggregating 140 MW and has a project pipeline of ~1.2 GW. NLC India targets to develop 4 GW of solar projects by 2022.
The second order bagged by L&T is for building a 100 MW solar project at Bhadla Phase III Solar Park in the state of Rajasthan. This order came from SB Energy One, a subsidiary of SoftBank Group.
In the recently-concluded 500 MW Bhadla solar park auction, Hero Future Energies had won 300 MW at a winning bid of ₹2.47 (~$0.0380)/kWh followed by Softbank Group which won 200 MW at the second lowest bid of ₹2.48 (~$0.0382)/kWh.
In 2017, Mercom had reported that L&T won the contract to supply 2.5 million smart meters to Energy Efficiency Services Limited (EESL), a joint venture company of public sector units of the Ministry of Power and the government of India.
The National Hydroelectric Power Corporation (NHPC) also signed an engineering, procurement, and construction (EPC) contract with L&T last year to develop a 50 MW grid-connected solar project in the Theni and Dindigul districts in Tamil Nadu.
Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $17 billion in revenue. It has a market presence in over 30 countries worldwide.
Image: Mercom India