BHEL secures Rs 600-900 crore Power Grid order for Gujarat project
The state-owned firm will install two synchronous condensers at Kalyanpur to integrate renewable energy power.
Bharat Heavy Electricals (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 Business Standard, the contract is for setting up two +300/-200 MVAR synchronous condensers at Kalyanpur in Gujarat.
The order was issued on behalf of a project special purpose vehicle (SPV) of Power Grid. The project is linked to a transmission system designed to integrate power from renewable energy projects in the Jam Khambhaliya Renewable Energy Zone (REZ) in Gujarat.
The scope of work includes the design, engineering, manufacturing, supply, erection, testing and commissioning of the equipment. BHEL stated in an exchange filing that the project will be executed over 35 months and that the contract does not involve any interest from its promoters or promoter group.
Following the announcement, BHEL shares gained 3.5 per cent in intraday trade on Wednesday. The company recently reported a more than twofold year-on-year increase in net profit to Rs 820.94 crore in Q2FY27, up from Rs 374.89 crore in the same quarter last year.