GE Vernova T&D India Limited has secured a major contract from AESL Projects Limited for establishing critical renewable energy infrastructure. The contract, announced through a regulatory filing under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, involves the design and establishment of a 2500MW, 500kV HVDC VSC Terminal Station for renewable power evacuation from Khavda to South Olpad.

Contract Details

The awarded contract encompasses the design and establishment of a sophisticated power transmission system for renewable energy evacuation. The project specifications demonstrate the scale and technical complexity of this infrastructure development.

Technical Scope

The contract involves the design, supply, and execution of a High Voltage Direct Current (HVDC) Voltage Source Converter (VSC) Terminal Station. This advanced technology is crucial for efficient long-distance power transmission, particularly for renewable energy projects where power generation sites are often located far from consumption centers.

The 2500MW capacity represents a significant addition to India's power transmission infrastructure. The dual 1250MW configuration provides operational flexibility and redundancy for the renewable power evacuation system from the Khavda region to South Olpad.

Project Timeline and Execution

The contract is structured for execution over several years, reflecting the comprehensive nature of the project scope. The multi-year timeline allows for proper planning, design, procurement, and installation phases typical of large-scale power transmission infrastructure projects. This extended execution period ensures thorough implementation of the complex HVDC technology and infrastructure requirements.

Regulatory Compliance

GE Vernova T&D India Limited has confirmed that this contract does not involve any related party transactions and that promoter groups have no interest in the contracting entity. The award represents a standard commercial transaction with AESL Projects Limited, a domestic entity.

This contract award strengthens GE Vernova T&D India Limited's position in the renewable energy infrastructure sector and demonstrates the company's capability in handling large-scale HVDC transmission projects essential for India's clean energy transition.

GE Vernova T&D India Limited has been penalized by GST authorities in West Bengal for input tax credit discrepancies during the financial year 2021-22. The company received a penalty order of ₹2.12 crores from West Bengal authorities on December 19, 2025, and has disclosed the matter to stock exchanges in compliance with regulatory requirements.

Penalty Details

The Office of Deputy Commissioner, Salt Lake, West Bengal, has imposed a comprehensive penalty on the company for GST law violations. The penalty structure includes multiple components that collectively amount to a significant financial obligation.

Nature of Violation

The penalty stems from a mismatch in Input Tax Credit claimed by the company during FY2021-22. Input Tax Credit allows businesses to claim credit for taxes paid on inputs used in the production of goods or services. The GST authorities in West Bengal identified discrepancies in the company's Input Tax Credit claims, leading to the current tax demand and penalty.

Company's Response and Impact Assessment

GE Vernova T&D India Limited has indicated its intention to challenge the penalty order through the appropriate legal channels. The company plans to file an appeal against the order before the first Appellate Authority, which is the standard procedure for contesting GST penalty orders.

The company has assessed that there is no material impact on its financial, operational, or other activities. The financial impact will be limited to the extent of the penalty order, suggesting the company has adequate resources to manage this obligation.

Regulatory Compliance

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events that could impact investor decisions. The company communicated the penalty details to both BSE Limited and National Stock Exchange of India Limited on December 20, 2025.

This penalty relates to historical tax matters from FY2021-22 and represents a compliance issue rather than an operational challenge for the electrical equipment manufacturer. The company's decision to appeal the order indicates its confidence in challenging the authorities' assessment of the Input Tax Credit mismatch.