New Delhi :, Hitachi Energy India Limited said on Monday that it has plans to invest around INR 2,000 crores over the next four to five years, contingent on continuing underlying trends, as India marches on towards becoming the third largest economy in the world.
“The energy challenge before us is bigger than one company, one team, and one individual. As the energy transition gathers pace with increased electrification and integration of renewables, power grids are becoming increasingly significant both from a capacity and complexity perspective. We remain focused on advancing a sustainable energy future for all and India is an important market in our effort to make the world’s energy system more sustainable, flexible, and secure,” says Andreas Schierenbeck, Global CEO of Hitachi Energy. “We have been continuously investing in India over the past seven and a half decades. The new investments are geared toward expanding and upgrading capacity and talent, strengthening supply chain and enabling flexibility through digitalization in line with the Hitachi Energy 2030 strategic growth plan.” “Through innovative technologies and solutions, Hitachi Energy seeks to create a world suitable for today’s generations and those to come. These investments anticipate India’s future energy requirement – to accelerate new energy transition and sustainable electrification – and the evolving nature of collaboration with customers and other stakeholders locally and in global markets, especially through digitalization and a lifecycle partner. It further strengthens our vision of make in India for India and the rest of the world,” said N Venu, Managing Director and CEO, Hitachi Energy India.
Key highlights of the investments include a significant capacity expansion of the large power transformers factory, upgraded testing capabilities for specialty transformers at the small power transformers and the relocation of the bushings factory, all crucial to further develop the country’s transmission projects to meet increasing energy demands. The capacity of the traction transformers factory will also be boosted to support the modernization of the Indian 1 / 3 railway network. This investment will bolster the manufacturing capacity of Hitachi Energy India’s production facilities. Additionally, plans are underway to expand the network control solutions offering and develop and manufacture localized Grid eXpand and Grid eMotion. The company will also introduce its maiden medium voltage offering- REF650—to the Indian market. Furthermore, concerted efforts will be made to nurture the supplier base in India for India and the world.