BHEL secures overseas turnkey contract

Bharat Heavy Electricals (BHEL) on Monday announced that it has secured its first ever overseas turnkey contract for grid connected Solar PV power plant.

BHEL has secured its maiden overseas turnkey contract for a grid-connected 8 MWac Solar Photovoltaic (PV) power plant. The solar farm will be set up by BHEL at Tamarind Falls, Henrietta (Phase II), Mauritius on engineering, procurement and construction (EPC) basis.

The contract for the same has been awarded to BHEL by CEB (Green Energy) Co., Mauritius, a wholly owned subsidiary of Central Electricity Board (CEB), Govt of Mauritius. The contract agreement for the project was exchanged between the Mauritian and Indian side during the visit of the Union Minister of External Affairs of India to Mauritius.

BHEL added that the project is funded under Government of India's Line of Credit (LOC) and has been secured by BHEL through a competitive bidding process. The project will be executed by BHEL's Solar Business Division and International Operations Division.

Shares of BHEL were up 0.19% at Rs 52.1 on BSE.

State-run Bhel is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 December 2020, the Government of India held 63.17% stake in the company.

The PSU company posted a consolidated net loss of Rs 217 crore in Q3 FY21 as against a net profit of Rs 162 crore in Q3 FY20. Net sales declined 23% year on year to Rs 4203 crore in Q3 FY21.

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