BHEL bags 135 MW EPC orders for Solar Photovoltaic plants; stock up 1%

The order received from MAHAGENCO envisages setting up a 50 MW SPV plant at Kaudgaon, Dist. Osmanabad in Maharashtra.

Jun 10, 2019 06:06 IST India Infoline News Service

Bharat Heavy Electricals Limited (BHEL) has won three major orders in quick succession, for setting up Solar Photovoltaic (SPV) Power Plants totaling to 135 MW, on Engineering, Procurement and Construction (EPC) basis, in Maharashtra and Gujarat.
Cumulatively valued at Rs520cr, the orders have been secured from Maharashtra State Power Generation Company Ltd., (MAHAGENCO), Gujarat State Electricity Corporation Ltd (GSECL) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd., (GNFC).
The order received from MAHAGENCO envisages setting up a 50 MW SPV plant at Kaudgaon, Dist. Osmanabad in Maharashtra. Notably, BHEL is also associated with Maharashtr'as renewable energy ventures with its SPV modules being installed in the solarisation of agricultural feeders. The GSECL order envisages setting up a 75 MW SPV plant at Dhuvaran, Dist. Anand in the state of Gujarat.
Significantly, the order from GNFC for a 10 MW SPV Plant has reinforced BHEL's contribution of 205 MW of green energy in Gujarat, out of which 130 MW is in Gujarat's Solar park at Charanka.
BHEL is offering EPC solutions for both off-grid and grid-interactive SPV plants at various locations in India including the Lakshadeep islands and has now established its prowess in contributing significantly towards green energy for the country. This is evident from its current portfolio of more than 850 MW of SPV plants, of which nearly 500 MW has already been commissioned.
BHEL has been contributing significantly to the nation's green initiatives for developing and promoting renewable energy over the past three decades. The enhancement of its state-of-the-art manufacturing lines of solar cells and solar modules has further strengthened its presence in the SPV segment. In addition, space-grade solar panels using high efficiency cells and space-grade battery are being manufactured at its Electronics Systems Division, Bengaluru.
BHEL's sustained success and dominant presence in the segment is backed up by a dedicated R&D team, product development groups and a spectrum of high quality in­ house developed PV products ranging from Solar Inverters and Solar Passive Trackers in addition to Solar PV cells and modules.

Bharat Heavy Electricals Ltd is currently trading at Rs68.95 up by Rs0.7 or 1.03% from its previous closing of Rs68.25 on the BSE.
The scrip opened at Rs68.60 and has touched a high and low of Rs69.55 and Rs67.95 respectively. So far 54,99,533 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs23,765.08cr.

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