Bharat Heavy Electricals Ltd (BHEL) shares gained 2% after announcing a consortium partnership with Hitachi Energy India Ltd to secure a key contract for high-voltage direct current (HVDC) terminal stations. Awarded by Power Grid Corporation of India Ltd (PGCIL), the project supports phase V of the Khavda Renewable Energy Zone in Gujarat.
The contract involves designing and building +800kV, 6000 MW HVDC terminal stations at Khavda and Nagpur, enabling renewable energy transmission across 1,200 km. The initiative, part of India’s plan to evacuate 8 GW of renewable energy from Khavda, aligns with the nation’s ambitious 500 GW renewable energy target by 2030. Scheduled for completion by 2029, it’s India’s first HVDC project tendered through a tariff-based competitive bidding (TBCB) process.
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