Voltamp Transformers to Invest Rs. 200 Cr. for new Factory in Gujarat
Vadodara-based Voltamp Transformers Ltd. will be investing Rs. 200 crore to set up its new factory in Jarod, Gujarat. Investment for this plant will be done out of the company’s internal accruals.
6,000 MVA Transformer Manufacturing Capacity to be Added
Voltamp’s upcoming factory, once commissioned, will add around 6,000 MVA annual transformer manufacturing capacity to the company’s existing capacity of 14,000 MVA per annum.
This plant will be the company’s third transformer manufacturing facility. Currently, Voltamp Transformers has two manufacturing units, one in Makarpura and the other in Vadadla, Gujarat.
220 KV Class Power Transformers to be Produced
Voltamp Transformer’s new Jarod factory will produce power transformers of upto 250 MVA individual capacity. These transformers will be in the 220 KV class, meaning that these transformers will be designed to function at a nominal voltage of 220 KV.
India’s Need to Ramp Up Power Transformer Production
As per MarkNtel Advisors, India’s Power transformer market is expected to grow to USD 8.41 billion in 2030. In 2023, the size of this market was USD 3.97 billion, and from 2024-2030, it is expected to grow at a CAGR of 10.84%.
This projected increase can be attributed to the rapid growth of India’s Renewable Energy (RE) sector. A Central Electricity Authority (CEA) December 2022 report mentions that about 433,575 MVA of substation transformation capacity needs to be added by 2030 to support India’s 500 GW RE target. This involves power transmission over long distances, which in-turn requires deployment of power transformers of the 220 KV class. However, Mercom reported in June 2024 that the Indian power sector, especially the solar power sector, is facing a shortage of power transformers.
The report mentioned that on account of increased demand from railway, infrastructure, power projects, and more importantly, solar projects, procurement time for 220 KV power transformers has significantly increased. This is because transformers are more complicated to manufacture than other Balance of System (BoS) equipment, and require specialised components in their production process.
Therefore, there is a need to ramp up power transformer production in India.
About Voltamp Transformers Ltd.: Voltamp Transformers Ltd. is a Gujarat-based manufacturer of oil-filled, cast resin, and induction furnace transformers. The company also manufactures switchgear and Compact Sub Station (CSS). The company reported a revenue of 1,616.22 crore from its operations during FY-24.
