Bharat Heavy Electricals Limited (BHEL) has informed BSE on Monday about its plan to set up a 10MW solar power plant in Shivanasamudram, Belakavadi village in Mandya district of Karnataka.
The company had already fixed a 5MW power solar power plant at Shivanasamudram in the past.
Rs. 68 crore will be invested to set up the plant for the Karnataka Power Corporation Limited (KPCL). The company stated in a press release that the contract to set up the grid connected solar power plant has been approved, including operation and management of the plant for three years.
BHEL has undertaken similar projects for KPCL, which include a 3MW solar plant near Raichur.
BHEL has fixed major solar plants across the country. The plants, ranging from 2MW to 10MW, have been set up in the states of Maharashtra, Rajasthan, Tamil Nadu, Tripura, Uttar Pradesh and Karnataka.
The company is in the process of setting up the nation's largest solar power plant (15MW) for NTPC at Singrauli in Madhya Pradesh. The company is also taking up orders from Neyveli Lignite Corporation, Electricity Department of Daman & Diu and Orissa Power Corporation Limited.
The photovoltaic systems for the plants is manufactured at its facility in Bangalore. The solar cells manufactured in Bangalore are exported to Germany, Australia and Italy.
The company stated that it is planning to support the Jawaharlal Nehru National Solar Mission (JNNSM) of Government of India, which aims to achieve 22,000MW of Solar Power in the country by the year 2022.
On Monday, the stock price of BHEL recorded at Rs.229.85, with a surge of Rs.2.80 or 1.23 percent. The company has a market cap of Rs. 5,55,727.62.