BHEL, Hitachi Energy rise up to 9% after securing Khavda Nagpur project

Bharat Heavy Electricals (BHEL) and Hitachi Energy India rose up to 9.1 per cent in trade on BSE. The buying interest came after both companies together bagged the Khavda Nagpur HVDC project from Power Grid Corporation. 

 

Around 9:28 AM, BHEL's share price was up 2.05 percent at Rs 246.4 per share and Hitachi Energy's share price was up 7.42 per cent at Rs 12530.65 per share on BSE. In comparison, the BSE Sensex was up 0.30 per cent at 80,354.15. The market capitalisation of BHEL stood at Rs 85,798.04 crore and Hitachi Energy stood at Rs 53,189 crore. 

 

"A consortium of M/s Bharat Heavy Electricals Limited (BHEL) and M/s Hitachi Energy India Limited has been awarded the contract for the establishment of + 800, 6000MW High Voltage Direct Current (HVDC) terminal stations at Khavda Pooling Station-2 (KPS2) (HVDC) & Nagpur (HVDC) for evacuation of renewable power from Khavda region in Gujarat to Nagpur in Maharashtra," BHEL's filing read.

 

While Hitachi Energy did not specify the time period of the order in the filing, BHEL said that the order has to be completed by 2029. The amount of the deal was not revealed in the filing.

 

Power Grid Corporation of India had secured Khavda Phase V: Part A power transmission project tendered through a tariff-based competitive bidding (TBCB) process and subsequently selected BHEL and Hitachi Energy India for the implementation of bi-directional parallel HVDC bipoles and associated AC substations for power evacuation. 

 

The project is part of the interstate transmission system (ISTS) for evacuating 8GW of renewable energy under Phase V: Part A from the Khavda Renewable Energy Zone in Gujarat, feeding into the country’s 500GW renewable evacuation and transmission plan.

 

BHEL is an Indian public sector engineering and manufacturing company, established in 1964 and headquartered in New Delhi. It specialises in the design, manufacture, and service of equipment and systems for the energy, power generation, transmission, and infrastructure sectors. 

 

The company produces a wide range of products, including power plant equipment (such as turbines, generators, and transformers), electrical systems for power transmission and distribution, and industrial equipment for sectors like oil and gas. The company also plays a key role in renewable energy, particularly in solar power solutions. 

 

Hitachi Energy India is a global technology company specialising in electrical power and automation solutions. It is a subsidiary of Hitachi Energy, which is part of the Hitachi Group, a multinational conglomerate. 

 

It provides products, systems, and services that support the reliable and sustainable delivery of electricity, contributing to the transformation of energy systems worldwide.