Bharat Heavy Electricals Limited (BHEL) has signed a Technical Assistance and License Agreement with General Electric Technology GmbH Switzerland for Gas Turbines, the company announced on Wednesday through an exchange filing.
The agreement was signed by Jai Prakash Srivastava, Director (Engineering, Research & Development) & Director (Finance - Addl. Charge), BHEL and Theodoros Stamatiadis, Executive Counsel (IP), GE Power (virtually); in the presence of Dr. Nalin Shinghal, Chairman & Managing Director BHEL, Deepesh Nanda, CEO, GE Gas Power South Asia and President & CEO, GE Aero-derivative Business, Gas Power Asia, Renuka Gera, Director (Industrial Systems & Products), BHEL and other senior officials of GE and BHEL. Representatives of the US-India Business Council also attended the ceremony.
BHEL has been manufacturing and supplying GE-design Gas Turbines to various customers in India and abroad since 1986. Under this extension Agreement, BHEL will gain enhanced rights for existing /uprated and new Gas Turbine models.
BHEL partnership with GE
BHEL, in partnership with GE, is the market leader for Gas Turbines in India. As on date, BHEL has supplied about 230 GE-design Gas Turbines to various oil refineries, process industries and utilities in India and to various overseas customers. In addition, for the last 25 years, BHEL GE Gas Turbine Services (BGGTS) - a 50: 50 JV between BHEL and GE, is providing aftermarket support for engineering, repair and maintenance services to various customers.
India’s focus on achieving net zero emissions and including green hydrogen in the energy mix will also require future-ready power technologies. As per the agreement, BHEL will also be able to supply Gas Turbines with fuel blends viz. Hydrogen, Methanol, Syngas, etc. and in hybrid configuration contributing towards accelerating the energy transition in India; and through Aero-derivative Gas Turbines helping in grid balancing vis-à-vis the nation’s ambitious renewable energy build-up target.
The Agreement will also give a boost to India’s ‘Aatmanirbhar Bharat’ and ‘Make in India’ initiatives as BHEL will indigenously manufacture state-of-the-art Gas Turbines and their spares at its Hyderabad facility.
Bharat Heavy Electricals Ltd (BHEL) Shares
The shares of BHEL on Wednesday at 3:30pm IST were at Rs 93.15, up by 7.19 percent.
