Hitachi Energy India records highest-ever order backlog of nearly Rs.19,000 crore
- January 29, 2025
Hitachi Energy India Ltd has recorded its highest-ever order backlog that stood at nearly Rs.19,000 crore, as of December 31, 2024.
In a release, Hitachi Energy India said that at the close of December 31, 2024, the company recorded its highest-ever backlog of Rs.18,994.40 crore, providing revenue visibility for the coming quarters.
HVDC leads the surge
The company reported its highest-ever quarterly order of Rs.11,594.3 crore in the quarter ending December 31, 2024. The surge can be primarily attributed to a large high-voltage direct current (HVDC) order to transmit renewable energy from Khavda in Gujarat to Nagpur, Maharashtra.
In addition, the transmission segment (not including the HVDC order) led the order book momentum, with power quality and substation projects. Other major contributing segments were transportation followed by industries and data centers. In the first of its kind, the consulting team entered into a capacity reserve agreement for nearly a year for renewable studies with a customer in decarbonization space.
Excluding a large one-time HVDC order, share of exports grew to over 40 per cent of total orders in Q3FY25, with power quality, substation and renewable orders from Australia, Indonesia, Canada, Croatia, Azerbaijan, etc. Similarly, service segment constituted 11 per cent of total orders (excluding HVDC). Key orders include multiple market studies (for grid and renewables) and service agreements for lifecycle management.
Energy investments gaining momentum
“As nations and organizations steer towards their net-zero targets, energy investments are gaining momentum across verticals – utilities, industries, transport & infra,” said N Venu, MD & CEO, Hitachi Energy India Ltd. “Over the years, we at Hitachi Energy India Ltd have pre-empted this growth phenomenon and have been strengthening our manufacturing capabilities and the quarter’s positive trending performance reflects returns on localization, expansion and talent development.”
Also read: Hitachi Energy launches energy forecasting solution “Nostradamus AI”
Editor’s note: Although the Hitachi Energy India release has not given more details on the domestic HVDC order discussed above, the order, it is learnt, relates to building HVDC terminals related to the Khavda V-A project that is being developed by Khavda V-A Power Transmission Ltd, a TBCB subsidiary of PGCIL. The project envisages, among other elements, the setting up of two ±800kV HVDC terminals – one each at Khavda (Gujarat) and Nagpur (Maharashtra). As discussed in a recent T&D India story, some orders for associated power transmission lines have also been placed on entities like KEC International and Jyoti Structures.
Featured photograph (source: Hitachi Energy India Ltd) is for representation only
