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Larsen and Toubro (L&T) on Tuesday, July 28, said it has secured the framework agreement with TenneT for a 2 GW offshore wind programme worth more than ₹15,000 crore, also classified as an "ultra-mega" order.
The framework agreement announcement comes ahead of L&T's first quarter results, which are scheduled for later in the day.
It is also the third consecutive day of order win announcements by L&T. Since May 20, L&T has announced orders worth as much as ₹45,000 crore.
On Monday, L&T won a "major" order in the ₹5,000 crore to ₹10,000 crore range, while
on Friday it won a "large" order in the ₹2,500 crore to ₹5,000 crore range. Last week on Monday it won a "mega" order in the ₹10,000 crore to ₹15,000 crore range.
The company, in consortium with Hitachi Energy, entered the FCA covering in priciple six projects and future opportunities under TenneT's 2 GW HVDC programme, it said.
This framework is designed to support large-scale integration of offshore renewable energy and accelerate Europe's transition towards a sustainable and decarbonised clean energy future.
As part of the programme, the consortium will continue the execution of two ongoing projects: IJmuiden Ver Alpha and Nederwiek 1, in the Netherlands.
Also, the consortium will commence two new projects, Nederwiek 3 in the Netherlands and LanWin 5 in Germany.
Together, these projects represented a cumulative transmission capacity of 8 GW operating at 525 kV. The projects will enable the transfer of renewable energy generated in the Dutch and German sectors of the North Sea to the onshore power grids, L&T said in its exchange filing.
The scope of work includes engineering, procurement, construction and installation. L&T will execute the offshore converter platforms and associated infrastructure, while Hitachi Energy will provide its HVDC Light technology for efficient power conversion and transmission.
L&T said by combining its offshore engineering and project execution expertise with Hitachi Energy's advanced power transmission capabilities, the consortium is uniquely positioned to deliver reliable HVDC infrastructure that will accelerate Europe's renewable energy transition and support its decarbonization goal.
Shares of Larsen & Toubro are trading little changed after the order win at ₹3,812.1. The stock is still down 8% so far this year.
Also Read: Godfrey Phillips shares tumble 6% after weak Q1 results, margins contraction
The framework agreement announcement comes ahead of L&T's first quarter results, which are scheduled for later in the day.
It is also the third consecutive day of order win announcements by L&T. Since May 20, L&T has announced orders worth as much as ₹45,000 crore.
On Monday, L&T won a "major" order in the ₹5,000 crore to ₹10,000 crore range, while
L&T's 'ultra-mega' framework agreement with TenneT
The company, in consortium with Hitachi Energy, entered the FCA covering in priciple six projects and future opportunities under TenneT's 2 GW HVDC programme, it said.
This framework is designed to support large-scale integration of offshore renewable energy and accelerate Europe's transition towards a sustainable and decarbonised clean energy future.
As part of the programme, the consortium will continue the execution of two ongoing projects: IJmuiden Ver Alpha and Nederwiek 1, in the Netherlands.
Also, the consortium will commence two new projects, Nederwiek 3 in the Netherlands and LanWin 5 in Germany.
Together, these projects represented a cumulative transmission capacity of 8 GW operating at 525 kV. The projects will enable the transfer of renewable energy generated in the Dutch and German sectors of the North Sea to the onshore power grids, L&T said in its exchange filing.
The scope of work includes engineering, procurement, construction and installation. L&T will execute the offshore converter platforms and associated infrastructure, while Hitachi Energy will provide its HVDC Light technology for efficient power conversion and transmission.
L&T said by combining its offshore engineering and project execution expertise with Hitachi Energy's advanced power transmission capabilities, the consortium is uniquely positioned to deliver reliable HVDC infrastructure that will accelerate Europe's renewable energy transition and support its decarbonization goal.
Stock reaction
Shares of Larsen & Toubro are trading little changed after the order win at ₹3,812.1. The stock is still down 8% so far this year.
Also Read: Godfrey Phillips shares tumble 6% after weak Q1 results, margins contraction
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