Hitachi Energy’s ₹2,000 Crores Investment: A Step Towards India’s Sustainable Future

On October 7, 2024, Hitachi Energy Ltd announced a two-day experiential technology symposium, Energy & Digital World 75 (EDW75), aimed at commemorating the company’s achievements and its commitment to advancing India’s Net-Zero journey. The event will be inaugurated by prominent figures, including Amitabh Kant, India’s G20 Sherpa, Andreas Schierenbeck, Global CEO of Hitachi Energy, and N Venu, Managing Director and CEO of Hitachi Energy India.

To further its mission in India, Hitachi Energy plans to invest ~₹2,000 crore over the next 4-5 years. This investment aligns with the country’s ambition to become the third-largest economy globally. 

Schierenbeck emphasised the significance of collaborative efforts in tackling the energy challenges ahead, stating, “The energy challenge before us is bigger than one company, one team, and one individual. 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.” 

He further stated, “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 the supply chain and enabling flexibility through digitalization in line with the Hitachi Energy 2030 strategic growth plan.”

Hitachi Energy has been actively investing in India for over 75 years, and the new investments aim to enhance capacity, upgrade talent, strengthen supply chains, and enable flexibility through digitalization. This aligns with the company’s Hitachi Energy 2030 strategic growth plan. N Venu elaborated on this vision, stating, “Through innovative technologies and solutions, Hitachi Energy seeks to create a world suitable for today’s generations and those to come.”

Key highlights of Hitachi Energy’s investment plan include a significant expansion of its large power transformers factory, enhancements to testing capabilities for speciality transformers, and the relocation of its bushings factory. These developments are crucial for advancing the country’s transmission projects to meet rising energy demands. The traction transformers factory will also see an increase in capacity to support the modernization of India’s railway network.

In addition to manufacturing capacity expansions, Hitachi Energy is set to broaden its network control solutions and develop localized products, including Grid eXpand and Grid eMotion. The company will also introduce its first medium voltage offering, REF650, to the Indian market. Furthermore, efforts are being made to strengthen the supplier base in India, reinforcing the company’s commitment to “make in India” for both domestic and international markets.

This symposium and the accompanying investments signify Hitachi Energy’s dedication to contributing to India’s energy transition, aiming for a sustainable, flexible, and secure energy system that meets the evolving needs of the nation and the world.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.