Hitachi Energy bags power transformers supply contract from NTPC Renewable

Hitachi Energy India said that it has been awarded a contract by NTPC Renewable Energy to supply power transformers for their upcoming 4.75 GW renewable energy park in Gujarat, which is part of India's largest solar park.

Spread over 72,600 hectares in Kutch, this solar park supports the country's efforts towards carbon-neutral future with its increasing green energy footprint.

NTPC Renewable Energy is a wholly owned subsidiary of the power giant, NTPC.

As part of this project, Hitachi Energy will provide ten nos. 315 MVA 400/33/33 kV transformers manufactured at its Transformers factory in Vadodara. This will be the largest rating of transformer, used by solar power evacuation so far.

N Venu, managing director and CEO, India and South Asia, Hitachi Energy, said: The transition from fossil fuels to renewables has only just begun and we are proud to be part of this ambitious project by NTPC Renewable Energy.

Hitachi Energy is championing the urgency of the energy transition by pioneering technologies to help accelerate a carbon-neutral future."

Hitachi Energy is the world's leading provider of grid connections and power quality solutions, with an installed base of more than 10,000 projects worldwide, over 800 of which connect renewable energy sources to the grid. In India, Hitachi Energy operates under the legal entity name Hitachi Energy India (formerly known as ABB Power Products and Systems India).

The company's net profit declined 91.78% to Rs 1.34 crore on a 26.49% rise in sales to Rs 959.45 crore in Q2 FY23 over Q2 FY22.

The scrip rose 0.66% to currently trade at Rs 3350.90 on the BSE.

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