Patel Engineering Limited has informed the Exchange regarding a press release dated May 21, 2025, titled "PATEL ENGINEERING BAGS A HYDROPOWER PROJECT OF RS. 711.29 CROREFROM NORTH EASTERN ELECTRIC POWER CORPORATION LIMITED(NEEPCO).".
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Awaiting price reaction for this filing.
Patel Engineering has formally received a Letter of Acceptance (LOA) from North Eastern Electric Power Corporation Limited (NEEPCO), a central government PSU, for a Rs. 711.29 crore hydropower project. The contract covers the construction of the 240 MW HEO Hydropower Project in Shi Yomi district, Arunachal Pradesh, on an EPC basis. The project is to be completed within 44 months and includes civil works, associated infrastructure, and testing & commissioning of hydro-mechanical plant and machinery. The company had earlier been declared the lowest (L1) bidder on April 25, 2025, and this LOA confirms the formal award. Patel Engineering has a strong track record in hydropower, having completed over 40 hydroelectric projects and 85 dams.
This is a sizeable order from a government PSU that adds meaningfully to Patel Engineering's order book and reinforces its position in India's hydropower and Northeast infrastructure segments. Likely to be viewed positively by the market, though execution over 44 months will be the key thing to watch.