November 18, 2009 / 7:30 AM / 9 years ago

India's BHEL to set up power plant in central India

MUMBAI, Nov 18 (Reuters) - Top Indian power-equipment maker Bharat Heavy Electricals (BHEL.BO) said on Wednesday it has signed a joint-venture pact to build a 1,600 megawatt (MW) thermal power plant in the central state of Madhya Pradesh.

The power plant at Khandwa will be equipped with supercritical technology, which helps lower coal consumption and leads to lower emissions.

State utility Madhya Pradesh Power Generation Co Ltd and BHEL will initially have an equal share in the joint venture. Their stakes will later be diluted to 26 percent each, with the rest held by financial institutions and other partners, BHEL said.

BHEL has been promoting joint ventures with state utilities to set up and operate supercritical thermal power plants. It has set up joint ventures with the southern states of Tamil Nadu and Karnataka.

Earlier this month, leading Indian power producer NTPC (NTPC.BO) said it would set up a 2,640 megawatt (MW) thermal power plant under a pact with the Madhya Pradesh state government and the MP Power Trading Co. (Reporting by Pratish Narayanan; Editing by John Mair)

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