Global tech major Hitachi Energy Ltd plans to invest ₹2,000 crore over the next few years to strengthen India’s power supply systems as the country transitions to green energy, the company said in a statement on Monday.
Hitachi Energy’s India arm, Hitachi Energy India Ltd, will focus on technology to make the power transmission in the country greener. It will also focus on green mobility solutions in charging infrastructure for public transportation.
“This smart mobility solution will accelerate the uptake of safe, sustainable and smart mobility in India, especially for large-scale public transport and commercial fleets. Technological solutions such as these will be pivotal in accelerating the country’s journey toward its net-zero ambition,” the Zurich-based company said about a new green mobility portfolio it will launch in India this week.
Hitachi’s announcement closely follows the launch of the PM E-Drive, an electric vehicle (EV) subsidy scheme, which focussed on public transport, specifically electric buses, for inter-city mobility. Mint reported on 11 September that nearly 40% of the ₹10,900 crore scheme will be earmarked for electric buses.
The company will also introduce new power transmission equipment to Indian markets to reduce greenhouse gas emissions from the sector and make the country’s power grids more resilient. Emissions from power grids have risen as the country’s power demand has surged.
The projected all-India peak electricity demand and electrical energy requirement are 277.2 gigawatts and 1,907.8 billion units for the year 2026-27 and 366.4GW and 2473.8BU for the year 2031-32, according to 20th Electric Power Survey (EPS) demand projections.
India’s power generation growth after the covid-19 pandemic has been faster than pre-pandemic levels. Before the pandemic, the country’s power generation grew roughly 5-6% on average, and the same after the pandemic was 7.96% in 2021-22 and 8.87% in 2022-23, according to data from the power ministry.
For 2023-24, the government’s power generation target was fixed at 1,750BU, a sharp rise of 7.75%.
Heatwaves in the country boosted India’s power demand in 2024-25, and peak power demand for the fiscal was expected to reach 260GW, Mint reported in July. “The surge in power demand has also led to the government reviewing its long-term demand forecast. On 2 July, Pankaj Agarwal, secretary to the Union ministry of power, said the ministry may raise its projections for peak electricity demand for 2031-32,” the report said.
“As the energy transition gathers pace with increased electrification and integration of renewables, power grids are becoming increasingly significant both from a capacity and complexity perspective. The new investments are geared towards expanding and upgrading capacity and talent, strengthening the supply chain and enabling flexibility through digitalization in line with the Hitachi Energy 2030 strategic growth plan,” said Andreas Schierenbeck, global chief executive of Hitachi Energy, adding that the company has been investing in India for the last 75 years.
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