Bharat Heavy Electricals (BHEL) said that it has entered into a technology transfer agreement (TTA) with Bhabha Atomic Research Centre (BARC) for 50 kW alkaline electrolyser system for hydrogen production.

The well proven technology offered by BARC is indigenously developed and have high local material content.

BHEL through this collaboration with BARC intends to scale up Indigenous Alkaline Electrolyser Technology and commercialise it for application in sectors such as refineries, fertiliser, steel, transportation, etc.

State-run Bharat Heavy Electricals (BHEL) is engaged in design, engineering, construction, testing, commissioning and servicing of a wide range of products and services to the core sectors of economy. As of 31 March 2024, the Government of India held 63.17% stake in the company.

The company's net profit declined by 24.92% to Rs 484.36 in Q4 FY24 as compared with Rs 645.13 crore posted in Q4 FY23.