Plans to invest around Rs 2,000 crore over the next four to five years were announced by Hitachi Energy Group in the energy sector of India. The company plans to invest in enhancing transmission projects through relocation of manufacturing and capacity growth.
As part of the recent press statement, the Hitachi Energy Group made known huge investments, among which the plant’s new location, including bushing production within that factory, would increase the small power transformer capacity to test some of the specialty transformers and build an additional factory for large power transformers. All these are considered a must for further development to set up transmission projects in India as the country demands more energy.
Andreas Schierenbeck, Group’s Global CEO, Hitachi Energy: As a matter of fact, “the energy challenge before us is bigger than one company, one team, and one individual.” But he stressed that with the speeding up of the energy transition, “power grids are becoming increasingly vital from both capacity and complexity perspectives.”
“We are committed to moving forward toward a sustainable energy future for everyone,” Schierenbeck continued. “And India is one of the key markets for us in our effort at improving the sustainability, flexibility and security of the global energy system.”
According to Schierenbeck, Hitachi Energy Group has continuously invested in India for the last 75 years. The investments made herein are all part of the strategic growth plan 2030 of Hitachi Energy Group for supply chain enhancement, flexibility through digitalization, and skill and capacity.
Hitachi Energy Group will also add more capacity to its production of its traction transformers plant to meet the needs of the Indian railway network upgrades. “This investment will further enhance the manufacturing capacity of Hitachi Energy Group’s manufacturing facilities,” the company noted.
Hitachi Energy Group is also building localized Grid eXpand and Grid eMotion technologies besides expanding its offerings in network control technologies. It is developing its first medium voltage product, REF650, for the Indian Market.
This growth is driven by a rapidly increasing demand, and a conscious effort from the government towards increasing renewable energy. The Ministry of Power has predicted that power generating capacity in the country shall reach 620 GW by 2030, with 40 percent share going to renewables.
Post the article, Power Grid Corporation of India stated that the nation’s transmission network was also expanding with Rs 2.5 lakh crore (USD 33.5 billion) planned over the next five years. Thus, there is an ever more evident truth that Hitachi Energy Group plays a vital role in this process.
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