Shares of Hitachi Energy India surged nearly 10 per cent on Tuesday, following a significant project win.
Hitachi Energy shares traded at ₹12,400.75 on the BSE, higher by 6.20 per cent as at 12.37 am. The stock gained 10 per cent from previous close to hit the day’s high at ₹12,812 on the BSE.
Power Grid Corporation of India Ltd awarded the consortium of Hitachi Energy India Limited and Bharat Heavy Electricals Limited (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.
This 1,200 km long, bi-directional, bi-pole HVDC link, with a capacity of 800 kV and 6,000 MW, will transmit renewable energy from the Khavda region in Gujarat to the industrial hub of Nagpur in Maharashtra. This project is a crucial part of India’s 500 GW renewable energy integration plan.
As part of the consortium, Hitachi Energy India will be responsible for delivering key components, including converter transformers, AC/DC control and protection systems, gas-insulated high-voltage switchgear, thyristor valves, 765 kV/400 kV substations, and auxiliary systems.
Niklas Persson, Managing Director of Hitachi Energy’s global Grid Integration business, expressed his enthusiasm: “I am honored that Hitachi Energy is contributing its advanced HVDC technology to support India’s transition to a cleaner energy future. This project will play a vital role in integrating large-scale renewable energy sources and delivering reliable power to key consumption centers.”
BHEL shares rose 1.26 per cent to trade at ₹244.25 on the NSE as at 12.30 pm. Meanwhile, Power Grid Corporation shares traded at ₹338.95 on the BSE, lower by 1.14 per cent.
