Union minister Anant Geete to BHEL: Explore possibility for entering power generation business

Heavy industries minister Anant Geete

STATE-run electrical giant BHEL (Bharat Heavy Electrical Limited) will soon diversify into power generation business if minister for heavy industries and public enterprises Anant Geete’s statement has some bearing on the Maharatna company. Geete has asked BHEL to venture into electricity generation business.
While visiting the company's corporate office in New Delhi, the new minister...
suggested that BHEL explore the possibility of entering the area of power generation, an official statement by BHEL said.
BHEL chief B P Rao said: "The company has already made an entry into the area by setting up joint ventures with some state Gencos (generation companies)."
The company officials briefed the minister about the company's performance trends, diversification plans, manufacturing and research and development capability by the company officials.
The Minister, while appreciating the progress made by the company in different areas, asked BHEL to gear up for the future to face competition from the domestic as well as overseas companies, the statement said.
The minister also assured the company that he will take steps to solve issues related to projects under the different ministries like railways, defence and power.
"In view of the slowdown in the power sector, the company can step up its activities in other areas like renewables, transportation, transmission and defence," Geete said.
He added that his office will look into the issue of slow moving power projects and assured his full assistance in this regard.
Earlier this year, BHEL along with five other PSUs had signed an initial agreement for setting up the world's largest 4,000 MW ultra mega solar power project in Rajasthan.
The department of heavy industry would set up a joint venture company for executing this project worth Rs 7,500 crore in the first phase. The joint venture company will have equity participation of 26 percent from BHEL, 23 percent from SECI (Solar Energy Corporation of India), 16 percent from SSL (Sambhar Salt Ltd), 16 percent from PowerGrid, 16 percent from SJVNL (Satluj Jal Vidyut Nigam) and three percent from REIL (Rajasthan Electronics & Instruments Ltd).
Assuring BHEL of complete support and backing of the ministry, the minister assured steps to solve issues related to projects under the different ministries like railways, defence and power.
The minister said keeping in view the slowdown in the power sector, BHEL can step up its activities in other areas like renewables (including solar), transportation, transmission and defence, in a major way. The minister promised to look into the issue of slow moving power projects and assured his full assistance in this regard.