Maharashtra: L&T Bags JSW Energy’s 1.5 GW PSP Order in Bhavali

Larsen & Toubro’s (L&T) Heavy Civil Infrastructure (HCI) business has secured a significant order from JSW Energy for the execution of the Bhavali Pumped Storage Project (PSP) in Maharashtra. “The project is located across the Nashik and Thane districts of Maharashtra and is designed to have a total installed capacity of 1,500 MW, comprising various small units,” the company said in a statement.

It added, “The scope of work includes the construction of approach roads, upper and lower reservoirs, water conductor systems, pressure tunnels, and the underground powerhouse unit.” The order added, “Pumped storage projects such as Bhavali PSP are key to grid stability amid the rising integration of variable renewable sources.”

Green Energy Portfolio and Outlook

P. Ramakrishnan, Executive Vice President at Larsen & Toubro, said, “In its Green and Clean Energy portfolio, L&T said project prospects for FY26 have risen to ₹0.70 trillion, compared to ₹0.10 trillion last year. The company said, “Moving on to the next segment, which is Energy Projects, comprising Hydrocarbon and CarbonLite Solutions. The Green and Clean Energy business within this segment is still in the incubation stage and has yet to meaningfully contribute to overall segment numbers.”

He further noted, “We have strong prospects of ₹9.07 trillion for the Energy segment in FY26. This includes ₹7.47 trillion in Hydrocarbon, ₹0.90 trillion in CarbonLite Solutions, and ₹0.70 trillion in Green and Clean Energy. While CarbonLite prospects are largely domestic, around 94% of Hydrocarbon and 88% of Green and Clean Energy prospects are international.”

L&T added that margins in the Energy segment stood at 8.1% in FY25, down from 11.4% in the corresponding quarter of the previous year. The company said the higher margin last year was aided by a favourable claim settlement in the Hydrocarbon business.