Hitachi Energy India soars after consortium bags renewable energy transmission project from POWERGRID

Hitachi Energy India jumped 7.06% to Rs 12488.05 after the company's consortium with Bharat Heavy Electricals (BHEL) bagged renewable energy transmission project from Power Grid Corporation of India.

Meanwhile, shares of BHEL advanced 1.82% to Rs 245.85 on the BSE.

In a regulatory filing made post market hours yesterday, the company informed that Power Grid Corporation (POWERGRID) has awarded the consortium of Hitachi Energy India and Bharat Heavy Electricals (BHEL) to design and execute the high voltage direct current (HVDC) link to transmit renewable energy from Khavda in Gujarat to the industrial center of Nagpur in Maharashtra.

The 800 kV, 6,000 MW bi-pole and bi-directional HVDC link is part of the transmission system to transfer power from the potential renewable energy zone in the Khavda area of Gujarat under Phase-V (8 GW): Part A, which was awarded to POWERGRID on tariff-based competitive bidding (TBCB) basis.

This project crosses 1,200-kilometer (km) and feeds into the countrys 500-gigawatt (GW) renewable evacuation and interstate transmission system.

The scope of the project includes converter transformers, AC/DC control and protection, gas-insulated high-voltage switchgear, thyristor valves, 765kV/400kV substation and auxiliary systems to be delivered by Hitachi Energy India Ltd along with its consortium partner BHEL.

N Venu, MD & CEO, Hitachi Energy India, said: Hitachi Energy takes pride in being a catalyst in the nations energy system evolution and this project will leverage our pioneering HVDC technology that we now make in India.

HVDC technology is the most efficient and economical way to transmit clean energy over long distances, with the flexibility of two-way flow, thus making it a core technology in Indias ambition to have a strong and responsive grid for renewable energy.

Hitachi Energy India Limited provides product, system, software, and service solutions across the entire power value chain. The portfolio includes an extensive range of high-voltage products, transformers, grid automation products, and power quality products and systems.

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