GAIL & BHEL Join Hands for Solar Power Projects

GAIL (India) Limited and Bharat Heavy Electricals Limited (BHEL) have inked a Memorandum of Understanding (MoU) for cooperation in the development of solar-based power projects. Santanu Roy, Executive Director (Business Development), GAIL and S. Seetharaman, General Manager (Renewable Energy & Water Business), BHEL signed the MoU in presence of Manoj Jain, Director (Business Development) GAIL and Shri S. Balakrishnan Director (IS&P) BHEL

GAIL will be the project developer and BHEL will act as an Engineering, Procurement, Construction and Project Management Contractor. BHEL shall also provide Operation & Maintenance services during the initial period upon becoming successful bidder. This development will help both the companies to leverage their competitive strengths to build a substantial portfolio in solar power projects in line with INDC targets of Government of India.

The MOU aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in Tariff / Viability Gap Funding (VGF) based competitive bidding process.