L&T Construction will create renewable energy infrastructure for the world’s largest green hydrogen plant at NEOM, the company said in a BSE filing.
L&T will engineer, procure, and construct a 2.2 GWac PV solar plant, 1.65 GW wind generation balance of plant and a 400 MWh battery energy storage system at Oxagon in Saudi Arabia’s region of NEOM.
NEOM Green Hydrogen Company (NGHC) is an equal joint-venture by ACWA Power, Air Products and NEOM.
It will also construct three 380 kV switching stations, 306 kilometres of 380 kV overhead lines and UG cables required for the Kingdom’s grid network. The scope also includes the Energy Power Monitoring System (EPMS) for the complete network.
The value of the packages awarded to L&T aggregate to $2.779 billion.
Chairman designate and Managing Director of Larsen & Toubro, S N Subrahmanyan said, "Such initiatives at scale have the potential to speed up global energy transition. Also, these technology-led projects are aligned with L&T’s aspirations towards propelling our next wave of growth and reflect the customer’s trust in our commitment to professionalism, timely delivery, and quality".
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NGHC is setting up a mega plant to produce green hydrogen at-scale for global export in the form of green ammonia with a total investment of $8.4 billion. Supported by 23 local, regional, and international banking and financial institutions, the project has now achieved full financial close and construction is moving forward.
A few quarters back, L&T received the nod to establish the renewable energy generation, storage and grid infrastructure, from Air Products, the system-integrating EPC contractor and exclusive off-taker of green ammonia to be produced from the project.
David R Edmondson, CEO of NEOM Green Hydrogen Company said, "NGHC is excited to be leading the global energy transition and having the right partners is essential in making this happen, so we are thrilled to be working with Larsen and Toubro on our green hydrogen generation, grid infrastructure and storage".