BHEL gets new project of Rs 13,300 crore

28 Jun 2024 , 05:22 PM

Bharat Heavy Electricals (BHEL), a leading engineering and manufacturing company in the energy and infrastructure sectors, has secured a significant contract for construction of a 1600 MW thermal power plant in Koderma, Jharkhand. Shares of the company have gained 4% to ₹308 each in today’s early morning trade.

The DVC has awarded the engineering, procurement, and construction (EPC) package for Koderma TPS (2X800 MW) in Jharkhand to Bharat Heavy Electricals for ₹13,300 crore on June 26, 2024, aligning with the central government’s goal of ensuring the country’s energy security, according to a power ministry statement.

This project, which would also have a significant influence on the local economy and benefit people, would increase DVC’s installed thermal generation capacity to 8140 MW by 2030.

In FY24, the company acquired considerable orders, which is a major achievement. The Adani Group’s EPC orders for Yamuna Nagar, Lara Super Critical Power Plant, and Raigad Super Critical Power Plant were among the largest received last year.

In addition, the company received orders for 80 Vande Bharat trains and 20 super fast gun mounts for military ships, with contractual deliveries beginning in June 2025.

The corporation has concentrated primarily on defence, receiving a huge number of orders over the last 1.5 years.

It is constructing a prototype in collaboration with an OEM and has also teamed with a European company for maritime gas turbines, submitting a proposal with results expected in early FY26.

To ensure timely execution in the electricity segment, efforts are being made to bring in new vendors while also maintaining existing ones. Power usage increased by 8%-10% in FY 22-24. With India’s economy and manufacturing sector expected to grow rapidly, there is fear about a potential peak power deficit.

To address this issue, the government intends to install 80 GW of thermal capacity by 2032. Currently, 30 GW is under construction, and 44-45 GW of projects are scheduled to be awarded by FY27, resulting in more than 10 GW of yearly tenders over the next three years.

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