State-owned engineering firm Bharat Heavy Electricals Limited (BHEL) said it has withdrawn its acceptance of a letter of intent (LoI) from MB Power (Madhya Pradesh) Limited for the supply of equipment comprising boiler, turbine and generator for a 1×800 MW Anuppur thermal power project.
BHEL said the letter of intent was earlier accepted, subject to execution of a formal contract within the agreed timeline. It added that despite multiple discussions and extensions, the contract could not be executed as per the terms of the LoI, leading to the withdrawal of its acceptance.
BHEL said it had informed the customer regarding the withdrawal of acceptance of the LoI on April 17, 2026. The company had earlier informed exchanges on September 3, 2025, regarding acceptance of the letter from MB Power for the same project.
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Last week, BHEL said it had signed a technology collaboration agreement (TCA) with South Korea’s E2S Company Ltd. to strengthen its capabilities in excitation systems for synchronous machines. The agreement covers static excitation systems (SEE) and brushless excitation systems (AVR), the company said in an exchange filing.
Under the collaboration, BHEL will design, engineer, manufacture, install, commission, service and retrofit excitation systems for synchronous machines across domestic and international markets.
The company said the partnership is expected to enhance its technological capabilities and help maintain a competitive edge in the excitation systems segment. The agreement will also support BHEL’s participation in global markets while contributing to the government’s ‘Make in India’ initiative, it added.
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Shares of Bharat Heavy Electricals Ltd ended at ₹316.70, up by ₹7.65, or 2.48%, on the BSE today, April 17.
(Edited by : Shoma Bhattacharjee)
First Published: Apr 17, 2026 6:37 PM IST
