Mumbai: The Renewables (RENU) vertical of Larsen & Toubro has signed a Memorandum of Understanding with ACWA Power for the Renewables & Grid scope of the pioneering Yanbu Green Ammonia Project in the Kingdom of Saudi Arabia.
Yanbu Green Hydrogen Hub has been conceived as a fully integrated facility with its own captive renewable electricity generation powered solely by Solar and Wind. The Renewables & Grid scope of the project involves multiple facilities including Solar PV, Wind and Battery Energy Storage System plants along with associated substations and transmission lines.
The MOU aims to establish a collaborative framework to design and reach the best configuration and achieve the performance targets for the Renewables & Grid scope. The cooperation involves a commitment from Larsen & Toubro to enter into an engineering, procurement, and construction (EPC) contract once the final proposal is accepted.
This collaboration builds on L&T's proven EPC capabilities, ensuring optimal integration of diverse renewable technologies and robust delivery while raising the bar on safety, quality, sustainability and performance benchmarks.
Marco Arcelli, Chief Executive Officer at ACWA Power, said: “The rapid pace of development on the Yanbu Green Hydrogen Project is a clear demonstration of our commitment to supporting the Kingdom’s leadership role in the global energy transition. By developing and exporting green ammonia, we aim to support international markets in their decarbonisation efforts and pave the way for a cleaner, more sustainable world”.
T Madhava Das, Member of the Board and Senior Executive Vice President (Utilities) – Larsen & Toubro, said: “Saudi Arabia is a key leader in supply of clean energy and industrial decarbonisation. The kingdom has achieved remarkable progress in recent years due to the visionary programmes and initiatives. It is strategically located between east and west, produces renewable energy at competitive rates and develops ultra-mega projects with clear timelines. We are happy to contribute to its ambitions of promoting regional and international integration of clean energy, especially along the India – Middle East – Europe economic corridor. The MOU signed with our esteemed customer ACWA is a major milestone in our journey of trusted partnership”.
Background:
Larsen & Toubro is a USD 30 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.
