State-owned engineering firm Bharat Heavy Electricals Limited (BHEL) on Monday said that it has secured an order worth over Rs 11,000 crore from Adani Power and its arm for setting up three thermal power projects. On August 25, BHEL signed a contract with Adani Power and its subsidiary Mahan Energen Ltd for the supply of equipment including, boiler, turbine and generator, along with the supervision of the erection and commissioning processes for the three power projects, a BSE filing stated.
Each of these thermal power plant projects will have a capacity of 2x800 MW and will be based on advanced supercritical technology. These power plant projects are planned at Kawai Phase-II and Kawai Phase-III in Rajasthan, and Mahan Phase-III in Madhya Pradesh. The value of the three orders aggregates to more than Rs 11,000 crore, excluding GST.
Completion timeframe of projects
In their exchange filing, BHEL has said that the company has to complete the Kawai Phase-II project in 49 months, the Kawai Phase-III project in 52 months and the Mahan Phase-III project in 55 months. The company further stated that it will supply and commission equipment for these three power projects. The equipment to be supplied will include boilers, turbines, generators and controls among other equipment.
BHEL revenue rises
Notably, the order will have a positive effect on BHEL stocks which have already soared in the June quarter of FY25. BHEL's revenue grew 9.6 per cent year-on-year to Rs 5,484 crore in the June quarter of FY 2024-25. Meanwhile, Adani Power's consolidated continuing profit grew 95 per cent to Rs 4,483 crore in the April-June period of FY 2024-25 from Rs 2,303 crore earlier. Adani Power's consolidated power sales volume grew 38 per cent to 24.1 billion units in Q1 FY 2023-24 from 17.5 billion units in Q1 FY 2023-24.
(With PTI Inputs)
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