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Bhel lines up Rs 3,000 cr for solar energy foray
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Bhel lines up Rs 3,000 cr for solar energy foray
State-owned engineering company Bharat Heavy Electricals Ltd (Bhel) has lined up Rs 3,000-crore foray into solar energy sector and is seeking to rope in a Japanese technology partner.
Ravi Kumar, chairman and managing director, Bhel, said, “We are looking for technology partners for our solar foray and talking to companies in Japan for it.”
Bhel plans to set up an integrated solar facility in the country, either in West Bengal or Gujarat, with a substantial investment.
Kumar, who was talking to newsmen at the sidelines of Enertia Awards 2008, said the company was planning to rope in Bharat Electronics Ltd, a state-owned firm, as the Indian partner for the solar venture.
“Though there are a lot of companies in India who are making inroads into the sector, we are not talking to them currently. First, we are interested in technology,” he said.
He did not divulge the names of the Japanese companies saying it was premature, but said the companies also include Japanese silicon manufacturers. The partners could also pick up equity stakes in the project if they wish to, he said.
BHEL plans to finalise the plans by the end of next year.
Apart from the solar foray, Bhel is also contemplating setting up a greenfield forging and casting facility, for which it is negotiating with two foreign partners. “The venture will not only manufacturing products for the nuclear sector, but also for conventional operations,” he said.
The company is talking to UK-based Sheffield Forgemasters International Ltd and Japan’s Kobe Steel for a possible joint venture. A decision for this is expected till March 2009, after which it will take three years to commission the plant. The plant is likely to be located in Vizag with an investment of Rs 2,000 crore, Kumar said.
Bhel has a joint venture agreement with Nuclear Power Corporation India Ltd (NPCIL) for supplying nuclear reactors and will invest close to Rs 1,000 crore initially in the venture.
“We are also negotiating with four nuclear majors in the world for a tie-up,” he said.
Despite the ongoing slowdown, Kumar said Bhel is confident of achieving its targets for the current year. “In fact, we will exceed our targeted growth rate from 25% to 30%,” he said.
Under the XIth Five Year Plan, Bhel aims to execute an order book of 40,000 mw capacity. “We are also looking at increasing our exports from current 7% to 10% by 2012 March and will be entering several newer markets,” he said.
Kumar was conferred the award for individual contribution in the field of thermal power for the year 2008.
Source:
http://www.dnaindia.com/report.asp?newsid=1209423
Ravi Kumar, chairman and managing director, Bhel, said, “We are looking for technology partners for our solar foray and talking to companies in Japan for it.”
Bhel plans to set up an integrated solar facility in the country, either in West Bengal or Gujarat, with a substantial investment.
Kumar, who was talking to newsmen at the sidelines of Enertia Awards 2008, said the company was planning to rope in Bharat Electronics Ltd, a state-owned firm, as the Indian partner for the solar venture.
“Though there are a lot of companies in India who are making inroads into the sector, we are not talking to them currently. First, we are interested in technology,” he said.
He did not divulge the names of the Japanese companies saying it was premature, but said the companies also include Japanese silicon manufacturers. The partners could also pick up equity stakes in the project if they wish to, he said.
BHEL plans to finalise the plans by the end of next year.
Apart from the solar foray, Bhel is also contemplating setting up a greenfield forging and casting facility, for which it is negotiating with two foreign partners. “The venture will not only manufacturing products for the nuclear sector, but also for conventional operations,” he said.
The company is talking to UK-based Sheffield Forgemasters International Ltd and Japan’s Kobe Steel for a possible joint venture. A decision for this is expected till March 2009, after which it will take three years to commission the plant. The plant is likely to be located in Vizag with an investment of Rs 2,000 crore, Kumar said.
Bhel has a joint venture agreement with Nuclear Power Corporation India Ltd (NPCIL) for supplying nuclear reactors and will invest close to Rs 1,000 crore initially in the venture.
“We are also negotiating with four nuclear majors in the world for a tie-up,” he said.
Despite the ongoing slowdown, Kumar said Bhel is confident of achieving its targets for the current year. “In fact, we will exceed our targeted growth rate from 25% to 30%,” he said.
Under the XIth Five Year Plan, Bhel aims to execute an order book of 40,000 mw capacity. “We are also looking at increasing our exports from current 7% to 10% by 2012 March and will be entering several newer markets,” he said.
Kumar was conferred the award for individual contribution in the field of thermal power for the year 2008.
Source:
http://www.dnaindia.com/report.asp?newsid=1209423
