Hitachi Energy Secures Orders Worth Rs. 3,055 Crore in Q1 FY23
Hitachi Energy India Ltd., the Indian subsidiary of Hitachi Energy, has secured orders worth Rs. 3,054.6 crore during the first quarter of FY-23.
Value of Orders Won by Hitachi Energy India Shoots up by over 300% YoY
As per Hitachi Energy, there has been an increase of 309.7% in the value of orders received in Q1 of FY-23 on a Year-over-Year (YoY) basis. There has been a 192.7% increase QoQ in the value of orders secured by the company in Q1 of FY-23 as compared to the last quarter of FY-22. Exports markets in Azerbaijan, Saudi Arabia and Uganda contributed 23% of this order booking.
Segment-wise Y-o-Y Increase in Hitachi Energy India’s Order Value
Transmission Segment: Hitachi Energy stated that value of its orders in the transmission segment during Q1 of FY-23 recorded an impressive increase of 1706% on a YoY basis. Hitachi Energy has attributed this jump to the Mumbai Infeed High Voltage Direct Current (HVDC) order awarded to it by Adani Electricity Mumbai Limited (AEML). Other than this, transmission orders under Government’s Green Energy Corridor – II, as well as those from private and government utilities have contributed to this increase.
Mumbai Infeed HVDC link is an 80 Km long power transmission link that will connect Kudus to Aarey in Mumbai. This link will be developed by Adani Electricity Mumbai Infra Ltd (AEMIL), a subsidiary of AEML, on a Build-Own-Operate-Maintain (BOOM) basis. Out of this total length, 50 Km forms the underground section of this link. It is estimated that this 1000 MW HVDC link will increase the supply of electricity to Mumbai by 50%. The total cost of this project is estimated at Rs. 7,000 crore.
Industrial Segment: Value of Hitachi Energy’s Q1 orders from the industrial sector has doubled since Q1 FY-22. Hitachi Energy India stated that this 100% increase is due to domestic orders from an Oil and Gas major, and export orders from Saudi Arabia and Azerbaijan. One of the key orders is for the supply 174 MVA 220 / 33kV and 500 MVA 400/22kV digital transformers to a prominent Oil & Gas company.
Power Quality Segment: Orders from the power quality segment during Q1 of FY-23 exhibited a 28.6% YoY growth. This was due to orders for capacitors for feeder circuits and reactors for state grids secured by Hitachi Energy.
Metro and Railways Segment: Orders from the metro and railways sector remained almost of the same value. A meagre 1% increase in the value of orders from this segment was noticed. The company has received an order for the supply of 57 traction transformers from the Indian Railways. Moreover, it has also won orders for traction transformers from private rail equipment manufacturers. Hitachi Energy also said that it expects to be awarded 8 to 10 metro-related projects in the current financial year.
Apart from these, Hitachi has received automation orders and orders for Fibre Optic Transmission Equipment (FOTE) for data centre systems.
About Hitachi Energy India Ltd.: Hitachi Energy India Ltd. was formerly known as ABB Power Products and Systems India Ltd. It is the Indian subsidiary of Hitachi Energy. The company’s first factory was opened in Vadodara in 1962. Hitachi Energy India caters to the power utility and infrastructure sector and provides them with solutions to maintain their power infrastructure. The company recorded a revenue of Rs. 991.3 crore in the first quarter of FY-23.