GAIL (India) Limited and Bharat Heavy Electricals Limited (BHEL) have inked a Memorandum of Understanding (MoU) today in New Delhi for cooperation in development of solar based power projects. Shri Santanu Roy, Executive Director (Business Development), GAIL and Shri S. Seetharaman, General Manager (Renewable Energy & Water Business), BHEL signed the MoU in presence of Shri Manoj Jain, Director (Business Development) GAIL and Shri S. Balakrishnan Director (IS&P) BHEL
GAIL shall be the project developer and BHEL shall act as an Engineering, Procurement, Construction and Project Management Contractor. BHEL shall also provide Operation & Maintenance services during the initial period upon becoming successful bidder. This development will help both the companies to leverage their competitive strengths to build substantial portfolio in solar power projects in line with INDC targets of Government of India. The MOU aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in Tariff / Viability Gap Funding (VGF) based competitive bidding process.