New Delhi: State-run Bharat Heavy Electricals Limited (BHEL) has signed a long-term exclusive Memorandum of Understanding (MoU) with Singapore-based Horizon Fuel Cell Technologies Pte Ltd. The 10-year agreement focuses on exploring business opportunities in hydrogen fuel cell-based rolling stock, marking BHEL’s entry into the hydrogen-powered transport segment.
Strategic Move Towards Clean Mobility
The partnership aligns with India’s push for cleaner and sustainable mobility solutions. BHEL described the collaboration as an effort to create and enter a new market segment, leveraging Horizon’s expertise in hydrogen fuel cell technology. This step positions the company at the forefront of green transport innovation in India.
Read also: BHEL Secures Rs 2600 Crore Contract for Supercritical Thermal Power Project in Madhya Pradesh
Impact on BHEL Shares
BHEL shares have shown consistent growth in recent trading sessions, reflecting investor confidence following the MoU. The stock closed at Rs 212.90, up 0.86%, marking the sixth consecutive trading session in the green zone.
Ongoing Projects and Contracts
Apart from the hydrogen initiative, BHEL recently accepted a Letter of Intent from MB Power (Madhya Pradesh) Ltd for the supply of boilers, turbines, and generators for the 1×800 MW Anuppur Thermal Power Project in Madhya Pradesh. The project will be based on supercritical technology, demonstrating BHEL’s continued commitment to India’s power sector.
Outlook
By entering the hydrogen-powered transport segment, BHEL is expanding its renewable and clean energy portfolio, supporting India’s goal of sustainable infrastructure and green mobility. The MoU with Horizon Fuel Cell Technologies is expected to open new avenues for growth and technological innovation for the state-run company.
About BHEL
Bharat Heavy Electricals Limited (BHEL), a Maharatna PSU under the Ministry of Heavy Industries, is India’s largest engineering and manufacturing enterprise in the energy and infrastructure sectors. Established in 1964, BHEL is known for its wide portfolio of power plant equipment, heavy machinery, and cutting-edge research initiatives, making it a vital contributor to India’s industrial growth and Atmanirbhar Bharat vision.
