Larsen & Toubro’s renewables business has bagged a major order to develop three battery energy storage systems (BESS) in the Middle East. In L&T’s parlance, major contracts are valued between Rs 5,000 to Rs 10,000 crore.
L&T Renewables order details
The conglomerate’s renewables vertical has secured a BESS development order in the Middle East from a notable client, the company said in its filing. Additionally, L&T will also be involved in grid interconnections, pooling substations, and underground cables related to the contract.
Each contract features a 4-hour BESS, capable of storing and holding energy, to help with grid stability and renewable energy integration. “This enables effective energy shifting, allowing surplus clean energy generated during off-peak periods to be stored and delivered during peak demand hours,” the company said in its statement.
It added that these advanced BESS solutions will utilise liquid cooling technology to aid with higher power density, enhanced safety, and extended operational life
“The three projects will collectively contribute to 6 gigawatt-hour of storage capacity, marking one of the most impactful advancements in grid modernisation and renewable energy integration across the Middle East region,” L&T said in its regulatory filing.
L&T share price
Larsen & Toubro’s stock was trading flat in Tuesday’s intraday session. Over the past one month, its share price has advanced nearly 7%, while over the past six months, its stock has declined by more than 4%.