In April this year, 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 then said.
The company since announced in May that it had secured orders worth Rs. 2.65 billion in water and solar business.
According to the company, the solar business has won Rs 125 crore order for turnkey EPC works of Solar PV systems of 10 MW capacity in June this year.