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BGR Energy on Monday said it has received a ‘Letter of Award’ from National Thermal Power Corporation for supply of two super critical boilers valued at Rs 1,855 crore.
“BGR Energy has received ‘Letter of Award’ from NTPC for supply of 2x660 MW super—critical boilers to be set up at Solapur in Maharashtra. The order is valued at Euro 109.79 Mio plus Rupee component of 1121 crore (approximately Rs 1855 crore)”, BGR Energy said in a statement.
The execution period of the contract is 48 months, adding that the foreign exchange variation risk is fully protected.
“This order is a breakthrough of great significance to the company as we enter supercritical power equipment space with first contract from NTPC, the largest utility in India”, said Mr B G Raghupathy, Chairman and Managing Director, BGR Energy.
Early this year, BGR Energy Systems emerged as the lowest bidder in the NTPC bulk tender for supply of 11x660 MW super—critical boilers. The project would be setup across the country.
BGR Energy would execute these projects in collaboration with Hitachi Power, Europe, Germany and BGR Boilers, where the company has entered into joint venture collaboration for transfer of technology and equity participation, the statement added.
Shares of BGR Energy today closed at Rs 363.60 apiece, up 2.26 per cent on the BSE.
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