“The year 2021 saw fresh fervor toward sunrise sectors such as electric vehicles (EVs), datacenters, and renewables- from the government through productivity-linked incentive schemes and from corporates via investment in green businesses. 2022 beckons opportunities in the right direction.
The two years of Covid-19-led unprecedented disruption have ushered in faster adoption of digital power technologies in sectors such as transmission works and rail. Hitachi Energy has had a strong play in metro and rail, power transmission, and renewables this year — we advanced Indian Railways’ mission to achieve net-zero emissions via rail electrification solutions, India’s Power-for-All drive by commissioning one of India’s longest UHVDC transmission links from Raigarh to Pugalur, as well as provided our technology for a multitude of solar and hydro projects alongside to datacenter players propelling India’s Energy Transition.
With India aiming to hit 500 GW in renewable energy by 2030, the pace of development in sunrise sectors will also pick up. We expect industrial CAPEX to pick up only by the second half of 2022. Rail electrification, urban metro, and regional transport system will also drive growth, bringing in fresh opportunities for us.
Also read: Hitachi Energy Automates Power Distribution For New Kolkata Metro Line
Yet challenges ranging from new variants of the Covid-19 virus such as Omicron, high commodity prices, material shortages especially pertaining to semiconductors will likely weigh on market recovery.
We need greater support and stimulus in the power industry, including in EV charging infrastructure, and faster decision-making on transformational projects”.
Excerpted from a company statement where N. Venu expressed his prognosis of 2021 and outlook for 2022.
