L&T shares rise after renewables business wins major Middle East battery storage order

Larsen & Toubro Ltd (L&T) shares rose in Tuesday's trade after the company's renewables business won a major order to develop three Battery Energy Storage System (BESS) projects for a client in the Middle East. The projects will collectively contribute size gigawatt-hour of storage capacity. The L&T stock rose 0.22 per cent in Tuesday's trade to hit a high of Rs 4,094 on the BSE.

The order included development of the battery storage facilities as well as grid interconnections, including pooling substations and underground cables. Each of the three projects will feature a four-hour BESS, capable of storing and dispatching energy to support grid stability and renewable energy integration.

The battery storage systems will enable energy shifting, allowing surplus clean energy generated during off-peak periods to be stored and supplied during peak demand hours, L&T told stock exchanges.

The BESS solution will also incorporate liquid cooling technology, which the company said will support higher power density, safety and operational life, the company said.

The three projects are expected to contribute to grid modernisation and renewable energy integration across the Middle East. The order involved requirements related to plant performance, workforce mobilisation, safety, quality and project timelines.

L&T classified orders between Rs 5,000 crore and Rs 10,000 crore as 'Major', while orders between Rs 10,000 crore and Rs 15,000 crore fall under the 'Mega' category. The company, however, has not disclosed the exact value of this order in the filing.

Larsen & Toubro is a diversified multinational engaged in EPC projects, hi-tech manufacturing, products and services, with operations across multiple geographies.