Defence manufacturer Bharat Electronics Ltd is initiating a Rs. 600-crore, 150-MW solar power plant with other defence public sector units for joint consumption, BEL's Chairman & Managing Director S.K.Sharma said on Wednesday.
The plan and investment are being discussed with other PSUs.
About 80-90 per cent of its own needs can be met this way at BEL’s Bengaluru units at a lower cost, Mr. Sharma said at the company's annual news conference here.
Solar cells and modules form some of its significant non-defence products and are a focus area of its business. Having wheeled 80 lakh units from its 5.5-mw wind energy plants last fiscal, BEL expects to more than double this with the new 8.4-mW plant. BEL and its two subsidiaries ended 2015-16 with a turnover of Rs. 8,092 crore, 6.4 per cent up from the previous year. Net profit was almost 16 per cent higher at Rs. 1,387 crore.