BHEL secures Rs 600-900 crore Power Grid order for Gujarat project
The state-owned firm will install two synchronous condensers at Kalyanpur to support renewable energy integration.
Bharat Heavy Electricals Ltd (BHEL) has received an order valued between Rs 600 crore and Rs 900 crore from Power Grid Corporation of India, according to reports from Financial Express, Moneycontrol and Free Press Journal.
The contract, awarded on behalf of a project special purpose vehicle (SPV), involves setting up two +300/-200 MVAR synchronous condensers at Kalyanpur in Gujarat. The work includes the design, engineering, manufacturing, supply, erection, testing and commissioning of the equipment.
The project is intended to support the transmission system used to connect power from renewable energy projects located in the Jam Khambhaliya Renewable Energy Zone (REZ) in Gujarat. BHEL expects to execute the order over a period of 35 months.
In its Q2FY27 financial results, BHEL reported a net profit of Rs 820.94 crore, which is more than double the Rs 374.89 crore recorded in the same quarter last year. The company's revenue from operations also grew by 23.81 per cent to Rs 9,300.35 crore during the same period.