Hitachi Energy India secures ₹790 Crore supply order

25 Jun 2024 , 01:54 PM

On Tuesday, June 25, Hitachi Energy India Ltd. announced a ₹790 Crore order from Hitachi Energy Australia Pvt. Ltd. for the Marinus Link project.

The Marinus Link voltage source converter (VSC) provides high voltage direct current (HVDC) connections between Tasmania and Victoria. The company will supply equipment for the Burnie Converter Station and Latrobe Valley Converter Station projects.

The directive is expected to be carried out over four years.

Hitachi Energy will provide the HVDC project in Australia. It will provide the HVDC Light VSC stations for the project, according to a stock exchange filing. Certain equipment will be sent directly from the company’s facility in India.

In April, it was reported that Hitachi Energy was planning to create more global competence centres in India to enhance local operations, citing rising energy consumption and a push to increase renewable energy output in the country.

We are considering Hyderabad as our GCC destination, as well as Pune. Venu Nuguri, managing director and CEO of the company’s India unit, stated that it may take six months to a year. He stated that the centre might be located in either or both locations, depending on demand, but did not provide financial information about the investment.

At around 1.47 PM, Hitachi Energy was trading 1.36% higher at ₹11,749.25 per piece, against the previous close of ₹11,605.35 on NSE. The counter touched an intraday high and low of ₹12,218.75, and ₹11,607, respectively.

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