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Larsen and Toubro (L&T)on Monday, August 4, said its renewables business vertical has secured a "significant" order to develop a grid-connected 116 MWac solar photovoltaic (PV) plant integrated with a 241 MWh battery energy
storage system (BESS) at Kajra, Lakhisarai district in Bihar.
L&T classifies orders in the ₹1,000 crore to ₹2,500 crore range as "significant" ones.
The engineering, procurement and construction order marks an extension of the earlier phase, taking the total co-located storage capacity of the renewable generation site at Lakhisarai to 495 MWh, the largest such project awarded by a state utility in India, the company said.
The deployment of a four-hour BESS with intermittent solar generation will enable
energy time-shifting, allowing surplus clean energy to be stored and despatched during peak demand periods, L&T said. The BESS solution will feature liquid cooling technology, ensuring higher power density, improved safety and extended operational life, it added.
L&T said the initiative aligns with the Centre's policy push for co-located renewable energy storage systems and supports the Jal Jeevan Hariyali Abhiyan in Bihar, while contributing to employment generation and long-term energy security, it said.
The renewables business vertical had earlier secured an EPC order for a 275 MW solar PV project in Gujarat, the company said.
L&T reported a 29% increase in its first quarter net profit at ₹3,617 crore in comparison to the previous year's ₹2,786 crore. This was also above Street estimates of ₹3,387 crore.
Its revenue from operations increased 15.5% to ₹63,678 crore in the June quarter from ₹55,119 crore in the previous year, beating estimates of ₹62,829 crore.
L&T's EBITDA increased 12.5% to
₹6,316 crore in the first quarter from ₹5,615 crore in the year-ago period. A CNBC-TV18 poll had predicted an EBITDA of ₹6,362 crore.
Its EBITDA margin contracted to 9.9% from 10.2% last year and missing poll estimates of 10.1%.
L&T shares were up 0.56% at ₹3,607 apiece at 10.15 am on Monday.
Also Read:Federal Bank shares fall over 5% after Nomura downgrade, target cuts on MFI stress
L&T classifies orders in the ₹1,000 crore to ₹2,500 crore range as "significant" ones.
The engineering, procurement and construction order marks an extension of the earlier phase, taking the total co-located storage capacity of the renewable generation site at Lakhisarai to 495 MWh, the largest such project awarded by a state utility in India, the company said.
The deployment of a four-hour BESS with intermittent solar generation will enable
L&T said the initiative aligns with the Centre's policy push for co-located renewable energy storage systems and supports the Jal Jeevan Hariyali Abhiyan in Bihar, while contributing to employment generation and long-term energy security, it said.
The renewables business vertical had earlier secured an EPC order for a 275 MW solar PV project in Gujarat, the company said.
L&T reported a 29% increase in its first quarter net profit at ₹3,617 crore in comparison to the previous year's ₹2,786 crore. This was also above Street estimates of ₹3,387 crore.
Its revenue from operations increased 15.5% to ₹63,678 crore in the June quarter from ₹55,119 crore in the previous year, beating estimates of ₹62,829 crore.
L&T's EBITDA increased 12.5% to
Its EBITDA margin contracted to 9.9% from 10.2% last year and missing poll estimates of 10.1%.
L&T shares were up 0.56% at ₹3,607 apiece at 10.15 am on Monday.
Also Read:Federal Bank shares fall over 5% after Nomura downgrade, target cuts on MFI stress
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