Hitachi Energy identifies India as a key growth market
India: Following the rebranding of the parent company to Hitachi Energy, its operations in India announced their evolution to Hitachi Energy India Limited.
Formerly known as ABB Power Products & Systems India Limited, the business continues to be listed on India’s stock exchanges.
India is on an ambitious journey to become carbon-neutral and at the recent COP26 climate summit in Glasgow, the country announced a five-point climate pledge 1 for 2030 including a target of net-zero carbon emissions by 2070. Hitachi Energy, which has focused its Purpose on ‘Advancing a sustainable energy future for all,’ views India among its top five markets for expansion – a country which has significant potential in renewable energy, smart grids, grid modernization, and the electrification of transportation and industries including data centres.
“We are championing the urgency of a clean energy transition through innovation, collaboration and through the combination of IT, operational technology (OT), products and services that can be deployed today,” said Claudio Facchin, CEO of Hitachi Energy. He continued, “India is pursuing ambitious clean energy pathways and together with customers and partners, we are excited to support technologies that enable more integration of renewables such as High Voltage Direct Current (HVDC) interconnections and grid edge solutions,”
As per the International Energy Agency’s India Energy Outlook 2021 report 2, to meet growth in electricity demand over the next twenty years India will need to add a power system the size of the European Union to what it has now. Hitachi Energy aims to expand its portfolio to meet the needs of the evolving energy landscape in India and grow faster than the market to address the rise in demand.
“Hitachi Energy has a strong track record and six-decade heritage of investing and ‘making’ in India,” said N .Venu, Managing Director and CEO, Hitachi Energy India Limited.
With its new brand name – Hitachi Energy India – the business will be able to effectively position its pioneering technologies and services to existing and future customers expanding beyond the grid – opening up a breadth of opportunities in areas such as sustainable mobility and smart life, and contributing further economic, environmental and social value.
Source: Manufacturing Today