GAIL & BHEL Signed MoU For Development Of Solar Based Power Project
GAIL (India) Limited and Bharat Heavy Electricals Limited (BHEL) has inked a Memorandum of Understanding (MoU) in New Delhi for cooperation in the development of solar-based power projects.
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 a 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.