Bharat Heavy Electricals Ltd. (BHEL) bagged an order worth Rs 13,500 crore from NTPC Ltd. for the construction of a solar power project in Telangana, as per a release issued on Monday.
The firm will be in charge of the main plant package of 3x800 MW Telangana Stage-II supercritical thermal power project.
BHEL will undertake design, engineering, manufacturing, supply, erection, commissioning, and testing of the main plant package (Boiler, Turbine & Generator), including civil and structural works. The project will be developed in Peddapalli, Telangana.
The company received the notification of award from NTPC on March 29, after engaging in international competitive bidding.
This development comes after company announced that it would invest Rs 3,064.46 crore into its subsidiary, Bharat Coal Gasification and Chemicals Ltd. under its existing joint venture with the parent company. The investment will be the firm's equity contribution into BCGCL, and will be spread over four years.
"Investment of Rs. 3064.46 Crore as BHEL's equity contribution (spread over four years) in Bharat Coal Gasification and Chemicals Limited (BCGCL), BHEL's JV with Coal India Ltd.," the press release said.
BCGCL is a Joint Venture Company (JV) of BHEL and Coal India with equity shareholding of 49% and 51% respectively. The JV firm was incorporated on May 21, 2024.
ALSO READ: BHEL To Invest Rs 3064.46 Crore In Coal India Joint Venture; Approves JV With Titagarh Rails
Shares of BHEL on Monday closed 3.57% lower at Rs 245.75 apiece on the NSE, compared to a 2.14% decline in the benchmark Nifty 50.
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