New Delhi: Bharat Heavy Electricals Limited (BHEL), a state-owned engineering and manufacturing giant, has informed stock exchanges about the execution of a novation agreement related to a major High Voltage Direct Current (HVDC) link project. The project involves designing and executing an HVDC link along with associated AC substations to transmit renewable energy from Bhadla III in Rajasthan and Fatehpur in Uttar Pradesh.
Background of the HVDC Project
The HVDC project was initially awarded to a consortium of BHEL and Hitachi Energy India Limited (INHE) via a Letter of Intent (LoI) received from Rajasthan Part I Power Transmission Limited (RPPTL) on February 9, 2025. Subsequently, on April 3, 2025, BHEL had provided intimation regarding the execution of Supply and Services Contracts with RPPTL for the project.
Novation Agreement with AESL Projects Limited
During the execution phase, RPPTL proposed transferring its contractual obligations to AESL Projects Limited (APL), a wholly owned subsidiary of Adani Energy Solutions Limited (AESL). On November 14, 2025, the consortium comprising BHEL and INHE, RPPTL, and APL executed a Novation Agreement.
Under the agreement, APL has assumed all rights, obligations, and liabilities of RPPTL related to the project, ensuring continuity in project execution. BHEL clarified that all other terms—including the project scope, schedule, and commercial terms—remain unchanged.
About the HVDC Project
The HVDC link project is a critical renewable energy infrastructure initiative aimed at enhancing the transmission of power from Rajasthan and Uttar Pradesh to meet growing energy demands. It involves advanced HVDC technology and state-of-the-art AC substations to facilitate efficient, high-capacity renewable energy transfer.
About BHEL
Bharat Heavy Electricals Limited (BHEL) is India’s leading public sector undertaking and manufacturing company, specializing in power generation, transmission, and renewable energy solutions. With decades of expertise, BHEL plays a key role in India’s energy infrastructure development, contributing to both conventional and green energy projects nationwide.
