In a bid to set-up solar equipment manufacturing facility having a capacity of 600 MW, State-run BHEL is planning to invest about Rs 2,000 crore. Of total, the company will invest around Rs 500-600 crore initially, it will increase the investment according to the expansion of the solar gear making plant.
The company’s move to foray into solar equipment manufacturing comes at a time when the imports of cheap solar gears, especially from China, as well as overcapacity are hurting the Indian players. Further, the state-run power equipment major will also get into manufacturing silicon wafer, solar cell and solar module.
The company registered a fall of 9.74% in its net profit at Rs 1274.45 crore for the quarter ended September 30, 2012 as compared to Rs 1412.03 crore for the same quarter in the previous year. Total income decreased marginally by 0.93% at Rs 10692.22 crore for quarter under review as compared to Rs 10792.75 crore for the quarter ended September 30, 2011.
