GE Power secures additional turbine order for hydro business from Greenko

GE Power India said that it has secured an additional contract worth Rs 273.5 crore from GREENKO KA01 IREP as part of its existing agreement for the Saundatti Hydro Project in Belagavi, Karnataka.

We would like to notify that there has been an addition in the scope of the aforementioned contract with GREENKO KA01 IREP," it added.

The initial contract, valued at approximately Rs 863.4 crore ($113 million), was awarded on 29 April 2022, for the supply and installation of the complete electro-mechanical package for 3 x 320 MW + 2 x 160 MW (total 1,280 MW) vertical Francis pump turbine fixed speed machines.

The additional scope of work falls under GE Powers hydro business and will be accounted for as per the business transfer agreement with GE Power Electronics (India), now renamed GE Vernova Hydro Power India, following the sale and transfer of the hydro business.

GE Power India is one of the leading players in the Indian power generation equipment market. Hydro and gas businesses are also housed in the company in addition to steam power. The company offers a comprehensive portfolio of power generation solutions with a focus on emissions control and services, providing sustainable, affordable, and reliable electricity.

The electric utility company reported a consolidated net loss of Rs 18.58 crore in Q3 FY25 as against a net profit of Rs 0.37 crore in Q3 FY24. Total income rose by 7.7% year on year (YoY) to Rs 316.90 crore in the third quarter of FY25.

Shares of GE Power India shed 0.75% to Rs 243.30 on the BSE.

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