As demand for energy grows and the need to scale up renewable energy generation in India, Hitachi Energy is looking to expand, by opening more global capability centres in India to expand local operations.
Hitachi Energy is a Zurich-based firm, which makes transformers and large-scale power transmitters, operates a GCC in the country, where high power demand has led to the government ramping up generation, including in renewable energy.
“We are looking at Hyderabad for our GCC.. and also looking at Pune. It might take six months to one year,” said Venu Nuguri, the managing director and CEO of the company’s India unit. The center could be in either or both cities depending on the demand, he added, without giving financial details of the investment.
India’s government had in last year rolled out incentives for green energy transition, with the aim to have 500 GW of installed capacity through non-fossil fuel sources by 2030.
India’s power consumption grew 8% in fiscal year 2023. The International Energy Agency estimates that India will add electricity demand roughly equivalent to the current consumption of the United Kingdom, over the next three years.
Nguri added that “To meet the projected demand, market needs to generate at least 3-4 times than what is being done. And accordingly, our order book will also grow two or three times, higher than market growth.“
