State-owned Bharat Heavy Electricals Ltd (BHEL) on Wednesday announced that it has won a major contract worth ₹600 crore to ₹900 crore, from Power Grid Corporation of India Ltd through its Project SPV Company.

The company has received a Notification of Award (NOA) to install two +300/-200 MVAR synchronous condensers at Kalyanpur in Gujarat. The project is to be completed in 35 months.

The scope of work covers design, engineering, manufacturing, supply, installation, testing and commissioning. The condensers will be a key part of the transmission systems supporting renewable energy projects in the Jam Khambhaliya Renewable Energy Zone in Gujarat.

The announcement follows another significant order BHEL recently secured from Power Grid. That contract involves setting up two +300/-200 MVAR synchronous condensers at the Barmer-II HVDC Terminal Station in Rajasthan.

Also valued between ₹600 crore and ₹900 crore, excluding GST, the Rajasthan order covers the same range of services, from design and engineering to commissioning. It has a timeline of 44 months and aims to improve grid stability and provide reactive power support for the HVDC transmission system.

The company said the total value of contracts is expected to be between ₹5,000 crore and ₹7,000 crore.

Investors responded positively to the news. At 12:40 pm on Wednesday, BHEL shares were trading 2.16 per cent higher at ₹432.10.

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