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BHEL stocks rally on extension of gas turbine agreement with GE Technology

Jul 5, 2023

By: BlinkX Research Team

Bharat Heavy Electricals Limited (BHEL) stocks rally on Wednesday trade as the company has extended its Gas Turbines technology agreement with General Electric Technology GmbH Switzerland. 

BHEL in partnership with GE is the market leader for Gas Turbines in India. With BHEL-GE partnership in place since 1986, BHEL has been manufacturing and supplying GE designed Gas Turbines in domestic as well as overseas market. 

Till date, BHEL has supplied about 230 GE design Gas Turbines to various oil refineries, process industries and utilities in India and to various customers worldwide. 

As per the statement made by the company, under this extension agreement, BHEL has gained access and enhanced rights for existing, uprated and new Gas Turbine models.

Further, BHEL shall also be able to supply GTs with fuel blends viz. Hydrogen, Methanol, Syngas etc. and in hybrid configuration contributing further towards accelerating the energy transition in India, the company said.

Source: Media Reports