Hitachi Energy invests in India’s energy transition
The company plans to invest around $250 million in its operations in India over the next five years, contingent on continuing current underlying trends.
Image for illustration purposes.
India, Bengaluru: Hitachi Energy is hosting a two-day experiential technology symposium, Energy & Digital World 75 (EDW75), to celebrate 75 years of operation in India, encapsulating technologies and discussions toward advancing India’s Net-Zero journey. The event was inaugurated by Amitabh Kant, India’s G20 Sherpa, Andreas Schierenbeck, Global CEO, Hitachi Energy, and N Venu, Managing Director and CEO, Hitachi Energy India & South Asia.
To mark the milestone, the company plans to invest around $250 million (INR 2000 crore) in its operations in India over the next five years, contingent on continuing current underlying trends. This investment is part of the company’s larger $6 billion investment plans in manufacturing, engineering, digital, R&D, and partnerships across all major markets globally.
“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. 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,” Andreas Schierenbeck, Global CEO of Hitachi Energy, commented.
Highlights of the investments are 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, crucial to further develop the country’s transmission projects to meet increasing energy demands. The capacity of the traction transformers factory will be increased to support the modernization of the Indian railway network.
Source: Hitachi Energy