GE Power surges on bagging contract worth Rs 291.9 crore

GE Power India Limited has bagged a contract worth Rs 291.9 crore from Megha Engineering & Infrastructures Limited (MEIL).

The contract’s scope includes design, engineering, procurement, assembly, inspection, the supply of reversible pump-turbine and motor-generator with associated auxiliaries. It also comprises of supervision of erection, testing and commissioning for unit 1 (1 x 125 MW) of package III of phase I, units 2 and 3 (2 x 125 MW) of phase II and unit 4 (1 x 125 MW) of phase III of Kundah Pumped Storage Hydro-Electric Project in Nilgiris District of Tamil Nadu.

The project would provide peaking benefits of 500 MW (daily peaking energy would be 3 MU with all four units of 125 MW each operating for six hours daily for the whole year except during the month of January). Annual average energy benefits for (11 months) would be 1,005 MU.

The foundation of this project was laid in May 2018. Its estimated cost during the foundation was approximately Rs 1,850 crore. Under the project, Tangedco’s Porthimund and Avalanche-Emerald reservoirs in the district are utilised as the upper and lower reservoirs, respectively.

GE Power India Limited is engaged in the engineering, procurement, manufacturing, construction and servicing of power plants as well as power equipment and is also engaged in the manufacture of steam generators.

On Friday, the stock of GE Power opened at Rs 520.15. In the early morning session, it surged 5.3 per cent to Rs 538.80 from its previous close of Rs 511.70 on BSE.