GE Power India Limited — New Orders, 27-02-2025: Bagging/Receiving of orders/contracts

GE Power India Limited has provided an update regarding the contract awarded by GREENKO KA01 IREP Pvt. Ltd. originally reported in April 2022. The scope of the contract, valued at approximately INR 8,634 million (about US $113 million), has been expanded to include additional Engineering, Manufacturing, Procurement, Supply, Installation, and Testing of Electromechanical Equipment for an extra unit of 320 MW for the Saundatti Pumped Storage Project.

The new contract size is INR 2,735 million (exclusive of taxes) and is expected to be executed by 22 November 2027. This order falls under the company’s Hydro Business, which will be accounted for according to agreements related to the transfer of its Hydro Business unit. The addition represents a significant opportunity for growth in GE Power’s project portfolio, suggesting a positive outlook for the business segment. Investors should watch closely for progress on this and related ventures.