Bharat Heavy Electricals Ltd bags Rs 62 cr solar contract

NEW DELHI: Bharat Heavy Electricals Ltd has won Rs 62 crore order for setting up a solar power project at Belakavadi in Karnataka. The company said Karnataka Power Corporation Ltd has placed the turnkey contract for a five-megawatt solar photovoltaic project.

Bharat Heavy Electricals Ltd is executing another 11-mw solar photovoltaic power projects. Company scrip was trading at Rs 1,937, down 0.75%, at 1250 hrs on Bombay Stock Exchange.

The company manufactures photovoltaic modules at its Bangalore manufacturing facility. Solar cells and modules manufactured by the company are also exported to countries like Germany, Australia and Italy.

Bharat Heavy Electricals had in February this year signed an agreement with Spain's Abengoa to set up solar power projects in India. The companies seek to tap emerging opportunities arising out of the Jawaharlal Nehru national solar mission, which aims at the establishment of 20,000-mw solar power generation capacity by 2022