Larsen & Toubro (L&T)’s Heavy Civil Infrastructure business vertical has secured a ‘large’ order worth Rs 2,500 to 5,000 crore for the construction of India’s biggest pumped storage project in Raigad, Maharashtra.
The order has been awarded by Torrent Energy Storage Solutions, earlier known as Torrent PSH 3. The project, called the Saidongar-1 Pumped Storage Project (PSP), will have a total capacity of 3,000 MW.
Project expected to support peak power demand
The Saidongar-1 PSP will comprise ten units of 300 MW each. Once completed, the project is expected to play a key role in improving grid reliability and strengthening energy security for Maharashtra and other regions.
Under the contract, L&T will handle the design, engineering and execution of all civil and hydro-mechanical works associated with the project. This includes construction activities critical to the functioning of a large pumped storage facility.
Boost to grid stability and clean energy goals
Pumped storage projects like Saidongar-1 help maintain grid stability by storing surplus electricity and releasing it during periods of high demand. Such projects offer a flexible and reliable solution to manage peak power requirements.
The project also supports India’s long-term decarbonisation goals by enabling better integration of renewable energy into the power grid.
Reinforces L&T’s leadership in complex hydro projects
“This order is a testament to L&T’s unmatched capability in delivering complex hydroelectric/pumped storage projects of national importance. With a track-record of engineering excellence, timely execution and world-class safety standards, the Saidongar-1 PSP reinforces L&T’s position as a trusted partner for large-scale, high-capacity pumped storage solutions.” the company said in its BSE release while announcing the order.
Earlier this month, L&T’s Transportation Infrastructure business vertical of L&T has won a significant order worth Rs 1,000 – 2,500 crore for an arterial cable-stayed bridge over the Muri Ganga River in South 24 Parganas district of West Bengal.
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The share price of L&T has increased 3.67% in past three months and has gained 10.98% in past six months.