Hitachi Energy Expands Operations in India with New Global Capability Centers
Hitachi Energy, a global leader in power grids, is expanding its operations in India with the establishment of new Global Capability Centers (GCCs). This move is driven by the increasing demand for energy in India and the government's focus on expanding renewable energy generation.
The new GCCs will be located in Hyderabad and Pune and will operate as cost-effective offshore facilities. They will function as distinct entities under Hitachi Energy in Switzerland but will work closely with Hitachi Energy India. The specific locations will be determined based on demand considerations.
This expansion comes at a time when India is witnessing a surge in power consumption. The government has set an ambitious target of having 500 GW of installed capacity through non-fossil fuel sources by 2030. To meet this growing demand, India will need to significantly increase its electricity generation capacity, potentially tripling or quadrupling current levels.
Hitachi Energy anticipates that its order book will grow proportionally to the increase in demand. As of fiscal year 2023, the company's order backlog stood at Rs 7200 crore.
The expansion of Hitachi Energy's operations in India is a positive development for the country's energy sector. It will help to meet the growing demand for electricity and support the government's renewable energy goals.