Hitachi To Set-up Large Power Transformer Factory With Rs 2000 Crore Investment In India

ENA Sectors 2024-10-08 16:14:31 New Delhi, Oct 8 (KNN) Hitachi Energy has unveiled plans to invest Rs 2000 crore in India over the next five years, strengthening its operations and supporting the country's ambitious goal of achieving Net-Zero emissions by 2070. The investment strategy focuses on expanding manufacturing capacity and upgrading key infrastructure across several sectors. The company's plans include a significant expansion of its large power transformers factory, an upgrade in testing capabilities for specialty transformers, and the relocation of its bushings factory. These initiatives are designed to bolster India's transmission projects and meet the nation's growing energy demands. Furthermore, Hitachi Energy will increase the capacity of its traction transformers factory to support the modernisation of India's railway network. Andreas Schierenbeck, Global CEO, Hitachi Energy, emphasised the magnitude of the energy challenge, stating, The energy challenge before us is bigger than one company, one team, and one individual. He noted that as the energy transition accelerates, with increased electrification and integration of renewables, power grids are becoming increasingly crucial. Schierenbeck highlighted that these investments align with Hitachi Energy's 2030 strategic growth plan, which aims to enhance the sustainability, flexibility, and security of global energy systems. In addition to capacity expansion, Hitachi Energy plans to introduce localised solutions such as Grid eXpand and Grid eMotion. These innovations are designed to accelerate the adoption of renewable energy and electric mobility in India. The company also intends to launch REF650, a medium-voltage protection and control relay, to strengthen its position in India's power distribution market. Schierenbeck emphasised the company's long-standing commitment to India, stating, We have been continuously investing in India over the past seven and a half decades. He added, These new investments are geared toward expanding capacity, upgrading talent, and strengthening the supply chain, enabling flexibility through digitalisation. The investment aligns with the Indian government's 'Make in India' initiative, focusing on enhancing local manufacturing capabilities. Hitachi Energy aims to nurture the domestic supplier base, creating opportunities for Indian companies to integrate into the global supply chain. This strategy is expected to contribute significantly to India's industrial growth and technological advancement in the energy sector. (KNN Bureau) 39532 https://knnindia.co.in/news/newsdetails/sectors/hitachi-to-set-up-large-power-transformer-factory-with-rs-2000-crore-investment-in-india 2024-10-08 16:14:31 knnindia.co.in Hitachi To Set-up Large Power Transformer Factory With Rs 2000 Crore Investment In India