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Larsen and Toubro (L&T) announced on Tuesday that its renewable engineering, procurement, and construction (EPC) division, operating within the power transmission and distribution business, has successfully secured a contract for the establishment of a solar power plant in Dubai, United Arab Emirates. The project specifically involves the setup of a solar photovoltaic plant in the region.
In a filing to the Bombay Stock Exchange (BSE), L&T stated that the order for this project has been secured by the renewable EPC arm of its power transmission and distribution business. The company emphasised its commitment to introducing innovative renewable energy solutions and leveraging its project management expertise to accelerate the energy transition in the region. Dubai, known for its pursuit of economic development coupled with sustainable practices, will benefit from L&T's contributions to the renewable energy sector.
T Madhava Das, full-time director and Senior Executive Vice President (Utilities) at L&T expressed the company's dedication to playing a vital role in fostering sustainable energy practices in the region. He highlighted L&T's commitment to utilising its expertise to facilitate the energy transition process in Dubai, aligning with the region's focus on sustainable development.
Larsen and Toubro, a prominent Indian multinational corporation with a substantial market presence, boasts a diverse portfolio encompassing EPC projects, advanced manufacturing, and a range of services. With a colossal market valuation of $23 bn, L&T is well-positioned to contribute significantly to the renewable energy sector.
The successful acquisition of this solar power plant project in Dubai underscores L&T's prowess in the renewable energy domain and aligns with the company's broader mission to drive sustainable practices in the pursuit of economic growth. As the world continues to prioritise clean and renewable energy sources, L&T's involvement in such projects reflects the global shift towards a more sustainable and environmentally conscious energy landscape.
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