New Delhi: The renewables arm of Larsen & Toubro's (L&T) power transmission and distribution business has secured the go-ahead to begin constructing the 300 MW solar PV power plant in Saudi Arabia. The turnkey EPC order has been received from the consortium of Masdar, EDF Renewables and Nesma Company, said L&T in an official statement on Tuesday. Awarded by Saudi Arabia's Renewable Energy Project Development Office (REPDO) to the consortium under design, finance, build and operate mode, the project has now attained financial closure after the signing of the power purchase agreement and thereby a notice was given to L&T to proceed with the construction.
The project is in Third Jeddah Industrial City, 50 km south-east of Jeddah. This large utility-scale power plant utilises state-of-the-art technologies, including bifacial modules, single axial trackers, string inverters and robots for module cleaning.
Commenting on the development, L&T’s whole-time Director and Senior Executive Vice President (Utilities) T Madhava Das said, "We are thankful and happy to be part of establishing major solar projects awarded under the umbrella of Saudi Arabia's pioneering National Renewable Energy Programme (NREP), marking yet another milestone in our green technology path to enable the clean energy transition."
On April 9, L&T had secured a turnkey EPC contract from the consortium of ACWA from Saudi Arabia to construct Sudair Solar PV Project of 1.5 GW capacity. This project is considered the largest solar plant in Saudi Arabia and comes with a PPA signed.
(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram. You may follow us on Twitter here and stay updated)