GE Power India secures major hydropower contract in Nepal, stocks advance
GE Power India Limited (GEPIL) announced today it has secured a significant international contract worth approximately ₹2,404 million plus NPR 340 million from Blue Energy Limited. The deal involves the design, engineering, and supply of equipment for the 100MW Super Trishuli hydropower project in Nepal.
The shares of GE Power India Limited (GEPIL) were trading at ₹402.50 up by ₹7.45 or 1.89 per cent on the BSE today at 2.20 pm.
Under the 42-month contract, GEPIL will provide turbines, generators, and control systems, as well as oversee their installation and commissioning. This marks a notable expansion of GE’s hydropower presence in the region.
The company clarified that while it received the order, it will be executed in accordance with a previous business transfer agreement. This agreement transferred GEPIL’s hydro business undertaking to GE Vernova Hydro Power India Private Limited, formerly known as GE Power Electronics (India) Private Limited.
The contract does not involve any related party transactions or interests from GEPIL’s promoter groups.