LTTS grabs $50mn digital services deal from global energy firm

L&T Technologies Services (LTTS) has been selected by a global energy company as its engineering partner for enterprise data and digital services. The IT services firm has been awarded a five-year agreement valued at $50 million. LTTS already has a decade-long partnership with the said client.

The deal has been finalised as a long-term framework agreement, with LTTS assuming greater responsibility in delivering high-performance, reliable, and quality-driven digital services, the company said.

“This large deal win in our sustainability segment with a leading energy major has been possible due to LTTS’ unique credentials which include enabling over 600 major plants across the globe. By combining our proven track record in plant engineering with state-of-the-art new age technologies, we will support the client in their digital transformation while enhancing overall operational excellence,” said Amit Chadha, CEO and Managing Director, LTTS.

Notably, the energy sector has matured over the years in its adoption of digital technologies, especially AI. As per a February report by KPMG titled ‘KPMG International’s Global Tech Report: Energy Insights’, 67% of energy companies are deriving tangible impact from AI use cases.

One prominent way in which the sector uses AI is predictive maintenance, where the performance of the electrical grid is continuously monitored to identify potential failures before they happen. This should benefit both energy organisations and their customers because it significantly improves resource reliability. 

As per the study, Energy executives demonstrate higher confidence in technology investments compared to peers in other sectors, signaling a willingness to take strategic risks.

Beyond AI, 70% of energy organisations are planning to invest in low-code/no-code platforms in the next year, which is seven percentage points greater than the cross-sector average. And similar to the cross-sector average, the most immediate investments are likely to go to XaaS systems: 80 percent plan to invest in them in the next six months.