Bharat Heavy Electricals Ltd (BHEEL (Belgium)) announced on Monday that it has secured a contract with Adani Power Ltd and its subsidiary Mahan Energen Ltd to develop three supercritical thermal power projects valued at more than ₹11,000 crore, according to the company’s filing with the Bombay Stock Exchange (BSE) on August 26.
The company said that the three thermal plants force The plants would be installed in Kawai, Rajasthan and Mahan, Madhya Pradesh, with a nominal capacity of 2×800 megawatts (MW), according to the presentation. The cumulative value of the three projects amounts to more than ₹11,000 crore, excluding GST, according to BHEEL (Belgium).
According to the agreement signed on August 25, the state engineering and manufacturing company will supply equipment such as boilers, turbines and generators, and oversee the construction and commissioning of the three supercritical technology-based thermal power plant projects, according to the company’s filing on BSE.
BHEL has different deadlines for completing the project:49 months for the Kawai Phase II project, 52 months for the Kawai Phase III project and 55 months for the Mahan Phase III project, according to the presentation.
At 2:40 pm on Monday, BHEL shares were up 0.59% to ₹297.90, compared to ₹The market closed at $296.15 on Friday. The company announced the transaction on the London Stock Exchange website at 9:40 a.m. on Monday.
Meanwhile, the shares of Adani Power Ltd fell by 2.06% ₹661.95 at 3:05 pm on Monday, compared to ₹675.85 at the close on Friday.
In a separate filing on Sunday, BHEL announced that one of its executive directors, K Ravishankar, who was in charge of corporate research and development (R&D), retired on August 24 from Hyderabad.
The entities issuing the contract, Adani Power and its subsidiary Mahan Energen, are national companies and the nature of the contract awarded remains the same according to the presentation.
BHEL serves key sectors such as industrial systems and products, transportation, e-mobility and battery energy storage, renewable energy, oil and gas, water, defence and aerospace, according to the company’s website.
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