Whalesbook
The completion of this 1 GW urban high-voltage direct current (HVDC) project in Mumbai is a key step for Hitachi Energy India, strengthening the city's grid. The link is crucial for integrating increasing renewable energy sources and managing the escalating urban power demand.
Technology's Central Role
N Venu, Managing Director and CEO of Hitachi Energy India, highlighted how HVDC technology is central to modern power grids. He noted it's a key tool globally, including in India, for handling renewable energy's variable output and maintaining grid stability.
Strong Pipeline and Demand Drivers
The company sees a strong project pipeline ahead, with expectations of new tenders for both long-distance power lines and city energy supply. Demand is also boosted by expanding data centers and India's renewable energy targets, which could require roughly 66 GW of HVDC projects in the next ten years, based on industry figures.
Input Cost Pressures
Despite the positive outlook, rising input costs, especially for packaging, pose a near-term challenge. Venu explained that these cost pressures will show up in financial results as existing inventory is used. Complex project timelines might also shift. The company's market value is ₹1,26,159.40 crore, and its shares have already risen over 122% in the past year.