New Delhi : State-run BHEL plans to invest up to Rs 2,000 crore for setting up solar equipment manufacturing facility having a capacity of 600 MW. BHEL, grappling with persisting headwinds in the power sector, is betting on business diversification spread across various areas including solar energy and defence sectors.
“Initial investment could be around Rs 500-600 crore and then when we (can) expand it. (Overall investment) can go up to Rs 2,000 crore for a 600 MW capacity,” BHEL Chairman and Managing Director B P Rao told PTI. Bhel’s move to foray into solar equipment manufacturing comes at a time when the import of cheap solar gears, especially from China, as well as overcapacity are hurting the Indian players. The firm is also pitching for safeguard duty on imported solar equipment to protect domestic makers from cheap imports.