Hitachi Energy formalizes new legal entity for Indian operations

 

Hitachi Energy’s Indian operations have now been formalized under the new legal entity “Hitachi Energy India Ltd”. This follows the rebranding of its parent entity to Hitachi Energy from the earlier “Hitachi ABB Power Grids”.

 

Though the Indian operations of erstwhile Hitachi ABB Power Grids were referred to as “Hitachi ABB Power Grids in India,” the legal entity was “ABB Power Products & Systems India Ltd.” This has now been formally changed to “Hitachi Energy India Ltd.”

 

In a release announcing the aforementioned change, Hitachi Energy reaffirmed its commitment to accelerating the clean energy transition in India.

Hitachi Energy, which has focused its Purpose on ‘Advancing a sustainable energy future for all’, views India among its top five markets for expansion – a country which has significant potential in renewable energy, smart grids, grid modernization, and the electrification of transportation and industries including data centers.

 

Clean energy transition

According to Claudio Facchin, CEO, Hitachi Energy, “We are championing the urgency of a clean energy transition through innovation, collaboration and through the combination of IT, operational technology (OT), products and services that can be deployed today.” He continued, “India is pursuing ambitious clean energy pathways and together with customers and partners, we are excited to support technologies that enable more integration of renewables such as High Voltage Direct Current (HVDC) interconnections and grid edge solutions. Technologies for enhancing energy efficiency and improving the transport infrastructure will also help to further develop the green growth opportunities – and as Hitachi Energy, we are committed to continue pushing the boundaries of innovation in India and delivering on the promise of a carbon-neutral future.”

 

Localizing the global portfolio

As per the International Energy Agency’s India Energy Outlook 2021 report, to meet growth in electricity demand over the next twenty years India will need to add a power system the size of the European Union to what it has now. Hitachi Energy aims to expand its portfolio to meet the needs of the evolving energy landscape in India and grow faster than the market to address the rise in demand. The business is focusing on localizing its global product portfolio, building indigenous capabilities as well as creating new jobs.

 

Big share in HVDC market

In the next five years, Hitachi Energy is aiming to augment its grid integration portfolio through power quality solutions and system studies, supporting the modernization of grids. It continues to strengthen its leadership position in the HVDC space – Hitachi Energy is behind 50 per cent of all HVDC projects in India – and raise the share of its transformers and grid automation business in high-growth segments such as rail and data centers.

Also read:Hitachi Energy To Continue Enabling Affordable Power In India

 

Strong track record

N Venu, Managing Director and CEO, Hitachi Energy India Ltd, said, “Hitachi Energy has a strong track record and six-decade heritage of investing and ‘making’ in India.” Venu continued, “About 80 per cent of our products are manufactured locally and we are the single-point source for Hitachi Energy’s global supply of certain products. Hitachi Energy has global engineering centers in Chennai, employing over 1,500 engineers, which support its R&D and execution of systems, products and factories in over 40 countries. We believe in India’s fundamental growth drivers and are increasing our footprint, opening new factories and expanding existing ones. As part of Hitachi Energy’s vision 2025, we aim to boost the digitalization of our products, consultancy and services, and exports in high-growth segments to drive India’s energy transition.”

 

Featured photograph relates to Hitachi Energy’s HVDC projects