Priyanka Tiwari
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Suspense crime, Digital Desk : The construction arm of Indian multinational conglomerate Larsen & Toubro (L&T) has secured a significant order from JSW Neo Energy Limited, a subsidiary of JSW Energy. The contract, classified as "significant" by L&T, falls within the range of ₹1,000 crore to ₹2,500 crore (approximately $120 million to $300 million).
The order is for the engineering, procurement, and construction (EPC) of a greenfield Pumped Storage Project (PSP) in Telangana. L&T's Heavy Civil Infrastructure business will be responsible for designing and executing the project's extensive civil and hydro-mechanical works. The scope of the project is comprehensive and includes the construction of an upper reservoir, intake structure, pressure shafts, an underground powerhouse, a tailrace tunnel, and a lower reservoir.
Pumped storage projects are a crucial component of renewable energy infrastructure, acting as large-scale energy storage systems. They function like giant batteries, pumping water to a higher elevation during times of low energy demand and releasing it through turbines to generate electricity during peak hours.
This major contract win was well-received by the market. Following the announcement, shares of Larsen & Toubro saw a positive jump in early trading on the Bombay Stock Exchange (BSE), rising over 1%. The new order reinforces L&T's dominant position in India's infrastructure and heavy construction sector, particularly in the growing field of renewable energy projects.
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