Maharatna public sector units GAIL India Ltd and Bharat Heavy Electricals Ltd (BHEL) have inked a memorandum of understanding (MoU) for cooperation in the development of solar power projects.
This will help them leverage their competitive strengths to build a substantial portfolio of solar power projects in line with India's intended nationally determined contributions under the United Nations Framework Convention on Climate Change.
India has set a target to achieve 100 GW of solar power by 2022 so that all citizens can have round-the-clock access to uninterrupted electricity.
The MoU is aimed at building a closer strategic partnership between the two state-owned companies for jointly pursuing commercial solar power projects through participation in tariff and viability gap funding based competitive bidding process.
GAIL will be the project developer and BHEL will act as an engineering, procurement, construction and project management contractor. BHEL will also provide operation and maintenance services during the initial period after becoming a successful bidder.
"GAIL is a proud member of India's clean energy infrastructure and is always committed to incorporate initiatives for sustainable development of the nation," said Director for Business Development Manoj Jain. "The skills and strengths of both the companies would create a synergy for achieving the objective of MoU," he said.
The company has India's second-largest rooftop solar photovoltaic power plant at its petrochemical complex in Pata, Uttar Pradesh. It has an overseas presence through offices and subsidiaries in the United States, Singapore, and Myanmar.
BHEL is one of the few companies in the world, and only company in India, having the capability to manufacture the entire range of power plant equipment and has proven turnkey abilities for executing projects from concept to commissioning in the field of thermal, gas, hydro and nuclear.
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