State-owned Bharat Heavy Electricals Limited (BHEL) on Friday (September 5) said it has entered into a long-term exclusive memorandum of understanding (MoU) with Horizon Fuel Cell Technologies Pte Ltd, Singapore.
The MoU covers cooperation in hydrogen fuel cell-based rolling stock for the domestic market, with both parties engaging in business sharing. The agreement carries a 10-year exclusivity period. Through this partnership, BHEL aims to create and enter a new market segment in hydrogen fuel cell technology for transportation applications.
Last week, BHEL said it had accepted a letter of intent (LoI) worth approximately ₹2,600 crore, excluding GST, from MB Power (Madhya Pradesh) Limited for the supply of key equipment for its 1×800 MW Anuppur thermal power project in Madhya Pradesh.
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According to the disclosure, the LoI, accepted on September 3, covers the supply of boiler, turbine, generator and associated auxiliaries along with control and instrumentation. The project will be based on supercritical technology.
The boiler will be manufactured at BHEL’s Trichy plant, while the turbine generator will be produced at the company’s Haridwar facility. The supply completion schedule has been set at 58 months.
The order has been awarded by a domestic entity, and the contract agreement is expected to be finalised shortly. BHEL confirmed that neither the promoter, promoter group, nor group companies have any interest in MB Power.
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Shares of Bharat Heavy Electricals Ltd ended at ₹212.90, up by ₹1.81 or 0.86%, on the BSE today, September 5.
