Hitachi Energy will invest $250m (Rs20.99bn) in expanding its capacity, portfolio and talent base in India over the next five years.
This investment is part of Hitachi Energy’s $6bn global investment plans in manufacturing, engineering, research and development, digital and partnerships to expedite the clean energy transition, $4.5bn of which was announced in June.
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In India, the company is focusing on a significant capacity expansion of its large power transformers factory and the relocation of its bushings factory in Gujarat, as well as upgrading testing capabilities for specialty transformers.
Transformers are used to adjust voltage levels on electricity grids to improve the efficiency of transmission and distribution.
According to Hitachi Energy, transformers are crucial in further developing India’s transmission projects to meet increasing energy demands and modernise the country’s railway network through electrification.
Hitachi Energy global CEO Andreas Schierenbeck commented: “We have been continuously investing in India over the past seven and a half decades. 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.”
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By GlobalDataOn 7–8 October, Hitachi Energy will host a two-day experiential technology symposium, Energy & Digital World 75, in New Delhi to mark its 75th anniversary in India. The event covers plenary sessions, product launches and technical conferences on new energy integration, sustainable electrification and smart infrastructure.
Hitachi Energy’s funding for transformer development in India follows major investments in North America, Brazil and Spain this year.
Power Technology’s parent company, GlobalData, forecasts that the global transformers market will reach $51.33bn by 2028, led by the Asia-Pacific region and fuelled in part by substantial asset demands in India.
Common drivers of the transformers market are grid development plans, renewable integration and reliability concerns over asset end-of-life.
