Mumbai: Bharat Heavy Electricals Limited (BHEL) has received four major orders from Adani Power Limited, with a combined estimated value ranging between Rs 20,000 crore and Rs 28,000 crore, excluding GST. The contracts cover equipment supply and associated services for four large power projects.
The state-owned engineering company disclosed the development in a regulatory filing to the stock exchanges on November 4, 2026.
Four Mega Projects
According to BHEL, each of the four projects will have a generation capacity of 1,600 megawatts (MW), comprising two units of 800 MW each.
Together, these projects represent a combined power generation capacity of 6,400 MW.
Each contract is valued between Rs 5,000 crore and Rs 7,000 crore, excluding GST, making the orders a significant addition to BHEL's power equipment business.
Equipment Supply
Under the contracts, BHEL will supply critical power generation equipment, including boilers, turbines, generators and associated auxiliary systems.
The agreements also cover specified services required for the projects.
These components form the core infrastructure of thermal power plants and play an important role in electricity generation.
Execution Timeline
BHEL stated that the execution schedule would follow Adani Power's project requirements.
However, the company has not disclosed specific completion dates or individual project locations in its exchange filing.
The orders have been awarded by Adani Power, a domestic entity, and will be executed under the agreed contractual terms.
Regulatory Disclosure
BHEL clarified that its promoter or promoter group companies have no interest in the entity awarding these contracts.
The company also confirmed that the transactions do not qualify as related-party transactions.
The latest development highlights BHEL's continued participation in India's thermal power equipment sector as utilities pursue large-scale generation projects.
The contracts could strengthen the company's order book, although their contribution to future revenue will depend on execution schedules and contractual milestones.
Disclaimer: This article is based on BHEL's November 4, 2026 exchange filing and is intended solely for informational purposes.
