Bangalore: State-run Bharat Heavy Electricals Ltd (BHEL) bagged a Rs.60 billion (Rs.6,000 crore) order from the Karnataka Power Corporation Ltd (KPCL) for setting up a 2×800 MW thermal power plant at Yermarus in Raichur district, about 500 km from here.
“As part of this deal, we will take 26 percent equity stake in the Rs.1,200-crore joint venture being set up to build the power projects. We are expecting another order from KPCL for one more 800 MW unit,” BHEL Chairman and Managing Director B.P. Rao told reporters here.
As part of its growth strategy, BHEL is in the process of setting up thermal plants jointly with various state governments to augment power generation in the 11th and 12th five-year plans.
“We have signed agreements with states such as Maharashtra, Tamil Nadu and Madhya Pradesh for setting up thermal or gas-based power plants of 1,500mw, 2x800mw and 2x800mw capacity respectively,” Rao said.
BHEL is also in talks with Andhra Pradesh, Gujarat and West Bengal for setting up power plants of similar capacity.
“We will be investing about Rs.1,600 crore over the next three years to expand our capacity to manufacture equipment for about 20,000 MW in our plants across the country,” Rao noted.
The company has also finalised technology for its proposed 250 MW solar photovoltaic plant jointly with the other state-run Bharat Electronics Ltd.
“We have set $11-billion sales turnover target for fiscal 2012 as against the target of $10 billion for this fiscal. We are also ramping up our headcount by hiring about 4,000 engineers this fiscal,” Rao added.