Hot Pursuit     07-Sep-23
Hitachi Energy gains after bagging order from Ayana Renewable Power
Hitachi Energy India rallied 3.17% to Rs 4,479 after the company received contract from Ayana Renewable Power to provide a grid connection solution for their upcoming 300-megawatt (MW) solar photovoltaic power plant in Bikaner, Rajasthan.
Hitachi Energy has been working closely with Ayana Renewables for this project to co-create an optimized solution that meets the safety, quality and technical requirements of Solar Energy Corporation of India, the end-user of the renewable plant.

Leveraging its strong local footprint and expertise in project design and execution, Hitachi Energy will provide an engineering, procurement and construction management package that collects all the power generated by the plant and transfers it into the national transmission system safely and reliably. The project is scheduled to be commissioned in March 2024.

N Venu, managing director and CEO, India and South Asia, Hitachi Energy, said, "This project from Ayana Renewable Power is another step towards an integrated renewable energy system. This is where a robust integrated renewable energy system plays a crucial role in connecting all dots, to address the growing energy needs sustainably."

Hitachi Energy India is the world's leading provider of grid connections and power quality solutions, with an installed base of more than 10,000 projects worldwide, over 800 of which connect renewable energy sources to the grid. In India, Hitachi Energy operates under the legal entity name Hitachi Energy India (formerly known as ABB Power Products and Systems India).

The company's standalone net profit jumped 79.9% to Rs 2.41 crore on 4.7% increase in net sales to Rs 1004.17 crore in Q1 FY24 over Q1 FY23.

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