Larsen & Toubro (L&T) has secured a Framework Cooperation Agreement (FCA) with Dutch-German transmission system operator TenneT for its 2 GW offshore wind programme, strengthening the Indian engineering giant's presence in Europe's fast-growing renewable energy sector. According to the latest reports, the company announced this 'ultra-mega' framework agreement on Tuesday, July 28, ahead of its first quarter results. L&T described the contract as an 'Ultra-Mega' framework agreement, a category the company classifies as projects valued at more than ₹15,000 crore. The agreement, signed in consortium with Hitachi Energy, covers six projects in principle and future opportunities under TenneT's high-voltage direct current (HVDC) programme, which aims to accelerate Europe's clean energy transition. As per the regulatory filing, the programme is ultra-mega in nature, translating to an order worth over ₹15,000 crore.
Under the agreement, L&T and Hitachi Energy will continue work on two ongoing projects in the Netherlands, namely IJmuiden Ver Alpha and Nederwiek 1. The consortium will also begin work on two additional projects, Nederwiek 3 in the Netherlands and LanWin 5 in Germany. Together, these four projects will provide a cumulative transmission capacity of 8 GW operating at 525 kV. As reported by the regulatory filing, these projects are designed to transfer renewable energy generated in the Dutch and German sectors of the North Sea to onshore electricity grids, thereby supporting the region's decarbonisation efforts. The framework is designed to support large-scale integration of offshore renewable energy and accelerate Europe's transition towards a sustainable and decarbonised clean energy future.
According to the agreement terms reported by the regulatory filing, as part of the engineering, procurement, construction, and installation (EPCI) scope, L&T will design and build offshore converter platforms and associated infrastructure, while Hitachi Energy will supply its HVDC Light technology for efficient power conversion and transmission. The consortium will jointly deliver HVDC infrastructure for offshore renewable energy integration, leveraging both companies' technical expertise in the offshore wind sector. The company stated that by combining its offshore engineering and project execution expertise with Hitachi Energy's advanced power transmission capabilities, the consortium is uniquely positioned to deliver reliable HVDC infrastructure that will accelerate Europe's renewable energy transition and support its decarbonization goal.
As reported by the regulatory filing, L&T said the deal builds on the strengths of its Offshore Wind business, which is backed by multidisciplinary engineering expertise through its centres of excellence in India and Sharjah, UAE, along with global partnerships, a robust supply chain ecosystem, and modular fabrication facilities at Kattupalli, India. This strategic partnership positions L&T to capitalize on Europe's growing renewable energy infrastructure needs while supporting the continent's clean energy and decarbonisation goals through sustainable offshore wind transmission solutions. The framework agreement announcement comes as part of five consecutive days of order wins by L&T, with the company announcing orders worth as much as ₹50,000 crore since July 20. The latest order win represents the fifth consecutive day of order announcements, following a 'mega' order in the ₹10,000 crore to ₹15,000 crore range last week, a 'large' order in the ₹2,500 crore to ₹5,000 crore range on Friday, and a 'major' order in the ₹5,000 crore to ₹10,000 crore range on Monday.
In a separate development, L&T Energy Hydrocarbon Onshore, the company's EPC arm for upstream, midstream and downstream hydrocarbon projects globally, has secured a major EPC contract from Kuwait Oil Company (KOC) worth up to ₹10,000 crore. The project involves the construction of six new crude oil storage tanks, each with an operating capacity of 618,000 barrels, along with associated facilities on a lump-sum turnkey basis. As per the exchange filing, this contract reflects continued demand for large-scale hydrocarbon infrastructure projects in West Asia and reinforces L&T's position in executing complex oil and gas EPC projects. The latest order, secured on Wednesday, is an engineering, procurement and construction (EPC) contract that encompasses the EPC of six new crude oil storage tanks, each with an operating capacity of 6.18 lakh barrels and associated facilities on a lump sum turnkey basis.
L&T has expanded its Middle East presence by signing a six-year engineering, procurement and construction (EPC) framework agreement with Petroleum Development Oman (PDO), the country's leading oil and gas producer. According to the latest reports, L&T Energy Hydrocarbon Onshore has been selected as one of four EPC contractors eligible to participate in PDO's upcoming front-end engineering design (FEED) and EPC projects during the six-year contract period. Under the agreement, L&T will leverage its engineering and execution capabilities to support PDO's future project requirements while reiterating its commitment to supporting In-Country Value (ICV) development in Oman by creating opportunities for local suppliers, subcontractors and service providers. E.S. Sathyanarayanan, senior vice president and head of L&T Energy Hydrocarbon Onshore, stated that this framework agreement marks an important milestone in their long-standing association with Petroleum Development Oman, looking forward to supporting PDO's development plans through safe, innovative and sustainable project delivery while contributing to Oman's long-term energy and economic growth objectives.
L&T delivered robust financial results for Q1 FY27, with consolidated net profit rising 14% to ₹4,123 crore on a 7% increase in consolidated revenues to ₹67,942 crore compared to Q1 FY26. As per the regulatory filing, international revenues stood at ₹34,393 crore in Q1 FY27, contributing 51% of the company's total revenues. However, EBITDA fell by 3% YoY to ₹6,116 crore while EBITDA margin contracted by 90 basis points YoY to 9.0% in the June 2026 quarter. The company secured orders worth ₹108,014 crore, registering a year-on-year growth of 14% for the quarter ended June 30, 2026. During the quarter, significant order wins were achieved across multiple businesses such as residential & commercial buildings, transportation infrastructure, ferrous metals, offshore wind and the heavy engineering businesses. The value of international orders was ₹60,702 crore, contributing 56% to the total order inflow in the June 2026 quarter. The Group's consolidated order book as of June 30, 2026, was at ₹778,954 crore, reflecting a 5% growth over March 2026 quarter, with international orders constituting 52% of the overall order book. L&T reported mixed June quarter earnings, with its EBITDA missing estimates, though its order inflow delivered a positive surprise, and the management held on to its guidance for this fiscal.
