Bharat Heavy Electricals (BHEL) has exited the joint venture (JV) - UPCL by selling its equity stake in UPCL to TANGEDCO. The company has taken this step pursuant to TANGEDCO’s request to undertake the Udangudi Project as a State Government project only and accordingly, upon approval of board of BHEL, TANGEDCO and UPCL.
BHEL had formed a JV - Udangudi Power Corporation (UPCL) with Tamil Nadu Electricity Board (TNEB) in November, 2008 for setting up Udangudi Power Project. In 2010, TNEB was reorganized and the interest of TNEB in the JV was transferred to Tamil Nadu Generation and Distribution Corporation (TANGEDCO).
BHEL has been committed to the nation’s power development programme and has reaffirmed its commitment to the Indian Power Sector by equipping itself by way of contemporary technology, state-of-the-art manufacturing facilities and skilled technical manpower.
