Larsen & Toubro Ltd (L&T) shares were trading in the green and 1% higher on 27 January after the company’s renewables division was chosen by Masdar as one of the preferred Engineering, Procurement, and Construction (EPC) contractors for the northern site of the world’s first 24/7 Giga scale solar PV and battery storage project in Abu Dhabi.

In its regulatory filing, the company said, “Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, in collaboration with EWEC (Emirates Water and Electricity Company), announced at Abu Dhabi Sustainability Week (ADSW) that it is developing the gigascale project, capable of delivering up to 1 gigawatt (GW) of baseload power 24 hours a day, seven days a week.”

The project will include a 5.2 GW (DC) solar photovoltaic (PV) plant paired with a 19 gigawatt-hour (GWh) battery energy storage system (BESS), making it the largest solar and BESS project globally, according to the company.

The initiative will consist of two sites: a north site and a south site, each with a capacity of 2.6 GW and 9.5 GWh, respectively.

SN Subrahmanyan, Chairman and Managing Director at Larsen & Toubro, said, “The foresightedness coupled with definitive actions reflect UAE’s leadership role in accelerating sustainable economic progress. L&T is determined to bring in advanced capabilities for the global energy transition.”

At 3:05 pm, the shares of Larsen and Toubro were trading 0.27% lower at Rs 3,449 on NSE.

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