Azad Engineering Lands 53.5 Million USD Deal with GE Vernova for Power Plant Components

Hyderabad-based Azad Engineering Ltd. has sealed a major 53.5 million USD (about Rs 452 crore) deal with GE Vernova’s Steam Power Services to supply critical components for power plants. The six-year contract, running through 2030, involves making specialized rotating and stationary airfoils for nuclear, industrial, and thermal power systems. This agreement strengthens a partnership with GE Vernova that started back in 2013 and highlights Azad’s growing role in the global energy sector.

The deal comes on the heels of Azad opening a new 7,600-square-meter manufacturing facility at its Centre of Excellence & Innovation in Tunikibollaram, Hyderabad. This modern plant is designed to handle the demands of the contract, producing around 100,000 blades each year for GE Vernova’s global operations. The facility is packed with advanced technology and currently employs over 180 workers, with plans to hire hundreds more, creating a boost for local jobs.

“This six-year agreement through 2030 strengthens our position in the global power generation supply chain and validates our precision engineering capabilities for critical applications,” said Rakesh Chopdar, Chairman and CEO of Azad Engineering. He emphasized that the facility’s integration with the Centre for Excellence and Innovation enhances India’s standing in global manufacturing.

Azad has been building strong ties with major global companies in aerospace, defense, energy, and oil and gas. This contract is a testament to their investment in top-notch manufacturing and their ability to deliver complex parts that meet strict standards. It’s a big step forward for the company and for India’s reputation in the global engineering industry.

The news has caught the attention of investors, with Azad’s stock looking promising. According to Trendlyne, the stock’s average target price is Rs 2,150, hinting at a possible 39% jump from its current value. The deal not only boosts Azad’s growth but also supports efforts to create cleaner, more efficient energy solutions worldwide.