State-run Bharat Heavy Electricals Ltd has a reason to cheer as the Indian Space Research Organisation successfully launched its first satellite-export project for EADS-Astrium of Europe, equipped with solar panels build by the public-sector power-equipment manufacturer.
"BHEL has manufactured and supplied Space Grade Solar Panels to ISRO for their first satellite-export project for EADS-Astrium of Europe," a BHEL statement today said.
The satellite, equipped with the BHEL-built Solar Panels, was successfully launched by the European Ariane-5 launch vehicle from French Guyana.
Meanwhile, the company is close to finalising the joint venture partner for manufacturing nuclear forgings. BHEL's current orderbook stands at Rs 45,000 crore.
The power-equipment maker would investing Rs 10,000 crore in the current five-year plan on organic expansion, of which Rs 2,000 crore has already been spent.
The company has also received board approval for investing Rs 4,800 crore in expansion in the financial year 2009-10.
BHEL has recently won a Rs 2,100-crore order from NTPC for setting up two 500-MW units of steam generator and steam turbine generator packages at the latter's Mauda Super Thermal Power Project in Nagpur.