BHEL aims to reduce dependence on power biz to 50% in 10yrs

Bharat Heavy Electricals Limited today said it was aiming to reduce its dependence on thermal power business to 50 percent over the next 10 years from 80 percent now. "With focus on non-power business we are internally targeting to bring down dependence on thermal power sector to 50 percent. Currently, thermal power contribution is 80 percent now," BHEL chairman and managing director Atul Sobti said here today on the sidelines of 31st Indian Engineering Congress by The Institution of Engineers. He said the company is giving impetus on transportation, defence and solar in big way. The company has recently invested Rs 300 crore to enhance the solar PV cell making capability to 225MW. The Central Electricity Authority in a draft paper said given the massive capacity addition plans in the renewable sector, CEA estimates there is no requirement for new coal plants in 2017-22. Based on demand projections, CEA estimates new coal-based capacity requirement of 44,085 MW in 2022-27. But with 50,025 MW of coal power projects already in different stages of construction and likely to yield benefits in 2017-22, the agency does not foresee any immediate requirement for new coal power plants. ref: http://www.moneycontrol.com/news/wire-news/bhel-aims-to-reduce-dependencepower-biz-to-5010yrs_8127301.html