Hitachi’s Rs 2,000 Crore Chennai Tech Centre: Energy Innovation Meets Job Creation

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Hitachi Energy India clarified that its Rs 20 billion Chennai project involves Hitachi Energy Technology Services, not its core India operations. The initiative supports India’s clean energy transition, focusing on advanced grid technologies, innovation, and local manufacturing, reinforcing Hitachi’s longstanding commitment to India’s energy infrastructure modernization.

Hitachi Energy India Limited recently issued a clarification regarding its involvement in a major Rs 20 billion (approximately $250 million) project phase in Chennai, emphasizing that the initiative pertains specifically to Hitachi Energy Technology Services and not Hitachi Energy India directly. This distinction is critical given the company's diversified presence in India across multiple business verticals within the global Hitachi conglomerate.

Key Highlights:

The Rs 20 billion project is part of Hitachi Energy’s ongoing efforts to expand and modernize power transmission and grid infrastructure in India, enhancing clean energy integration and system reliability.

Hitachi Energy India Limited clarified that the investment and operational activities in Chennai relate to the Hitachi Energy Technology Services unit, distinct from Hitachi Energy India’s traditional manufacturing and engineering footprint.

The Chennai facility is positioned as a Global Technology and Innovation Center, fostering sustainable and secure energy systems through research, engineering, and development activities.

This expansion supports India’s energy transition journey, with significant contributions to renewable energy integration such as advanced High Voltage Direct Current (HVDC) technologies and grid automation solutions.

Hitachi Energy has a legacy of 75 years in India, with extensive manufacturing units, engineering centers, and collaborative skilling programs, setting a benchmark in the transmission and power sector.

The company reported strong financial performance with a 111% net profit increase in Q2 2024, driven by robust order inflows and operational efficiency improvements.

The announcement coincides with firmer US Treasury yields, which are expected to boost sentiment among Indian bond investors at upcoming auctions, reflecting a positive macroeconomic outlook.

Hitachi Energy’s ongoing investments align with India’s push towards a greener, technologically advanced power grid, with a commitment to local manufacturing and global supply chain integration.

Leadership in grid solutions and renewables integration places Hitachi Energy at the forefront of India's clean energy ambitions.

This clarification helps investors and stakeholders distinguish between different parts of the Hitachi group’s extensive presence in India, ensuring better understanding of project scope and investment areas.

Sources: Hitachi Energy official release, Reuters, Economic Times, Business Standard

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