Hitachi Energy India Ltd reported an order backlog of Rs.7,578.9 crore, as of September 30, 2023, which is the company’s highest-ever.
In a release, Hitachi Energy India Ltd said that during Q2 (July to September) of FY24, the company received orders worth Rs.1,747.1 crore – up 52 per cent over the comparable level in FY23.
Power transmission projects from multiple utilities, especially toward the build-up of green energy corridors, led the momentum in Q2FY24.The growing order book reaffirms the urgency for rapid energy transition and electrification, the release said.
Notable orders include a large contract for High Power (HP) STATCOM to integrate 4 GW renewable energy into the National Grid from the upcoming project in Fatehgarh, Rajasthan. The HP STATCOM and all major components for the project will be manufactured at multiple local factories, including the recently inaugurated HVDC and Power Quality factory in Chennai.
Orders were strengthened further by data centers, rail, increasing interest in digital services, and deeper penetration of the installed base, the release noted.
“Energy transition projects are spread across segments, and their multiplier impact is only possible when brought together by a flexible, digital, and secure grid. This quarter, our orders reflect a pick-up toward this mindset,” said N. Venu, Managing Director & CEO, Hitachi Energy India Ltd.
Export orders
Exports accounted for 25 per cent of total orders in Q2FY24. Orders were received from across the continents – transmission orders in Asia, power quality in Europe and US markets, and automation packages in Africa. The company also received from Kalpataru Projects International Ltd (KPIL), the largest-ever single order for disconnectors for a project in Guyana. The strategy of making in India for India and the world has augured good results, as our feeder factories continue to receive steady orders from various factories worldwide, the release added.
Featured photograph shows a 220/33kV substation commissioned by Hitachi Energy India Ltd.
