Last month, Larsen & Toubro had said that it was looking at grabbing sizeable orders for solar power projects driven by opportunity is sees in the sector. The $ 11.7 billion-engineering conglomerate’s fledgling solar power projects business has an order backlog of Rs 350 crore currently, but the company sees growth opportunities given India’s aim to scale up total installed capacity in the country to 20,000 mw by 2020.
“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 said.
The company said today that it had secured orders worth Rs. 2.65 billion in water and solar business.
These orders are for a solar thermal plant at Rajasthan and an engineering, procurement and construction contract for a pumping station at branch canal in Bhavnagar, Gujarat.