BHEL's consortium executes Novation Agreement for HVDC link project
BHEL's consortium executes a Novation Agreement with AESL Projects Limited for the HVDC link project, transferring rights and obligations initially held by RPPTL. Project terms remain unchanged.
The announcement is about a change in the involved parties of an existing project through a novation agreement. It does not significantly alter the project's scope or BHEL's involvement.
The announcement is about a procedural update regarding the transfer of obligations in an existing project, with no indication of positive or negative impact.
* BHEL, as part of a consortium with Hitachi Energy India Limited (INHE), is involved in a High Voltage Direct Current (HVDC) link project to transmit renewable energy from Bhadla III (Rajasthan) and Fatehpur (Uttar Pradesh). * A Letter of Intent (LoI) was received from Rajasthan Part I Power Transmission Limited (RPPTL) on February 9, 2025, and contracts were executed on April 3, 2025. * RPPTL transferred its obligations under the contracts to AESL Projects Limited (APL), formerly known as Adani Energy Solutions Step-Ten Limited, via a novation agreement. * BHEL, INHE, RPPTL, and APL executed a Novation Agreement on November 14, 2025, where APL assumed all rights and obligations of RPPTL under the contracts. * All other terms and conditions of the project, including scope, schedule, and commercial terms, remain unchanged.
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Bharat Heavy Electricals Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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