Larsen & Toubro today announced the renewables arm of its power transmission and distribution business had secured the go-ahead to begin constructing a 300 MW solar power plant in Saudi Arabia.
The Indian multinational received the turnkey EPC order from the consortium of UAE-based renewable energy developer Masdar, France’s power utility EDF Renewables and Saudi Arabian company Nesma.
The consortium was awarded a 25-year power purchase agreement for the 300 MW solar plant by the Saudi Ministry of Energy in the country’s second tender for large scale solar projects.
The power generated from the PV project will be sold to the Saudi Power Procurement Company at a price of €0.01367/kWh.
The project will be located in Third Jeddah Industrial City, 50 km south-east of Jeddah. The solar plant will be built with bifacial panels and single-axis trackers provided by unnamed manufacturers.
Earlier, Larsen & Toubro had announced the major EPC order win for 1.5 GW Sudair project in Saudi Arabia.
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