Transformers and Rectifiers (India) Limited has secured an order worth ₹53.33 Crore. This is for HVDC converter transformers and related works, awarded by Power Grid Corporation of India Limited. The company stated that the order aligns with its normal business operations and is expected to boost company growth. Delivery is slated for the next financial year.
Significant Order from Power Grid
Transformers and Rectifiers (India) Limited announced that it has secured a new order valued at ₹53.33 Crore from Power Grid Corporation of India Limited. The company is positioned as the first Indian Origin Private Sector Company to receive such an order.
Details of the Contract
The order encompasses repair, erection, testing, and commissioning of the 397 MVA HVDC Converter Transformer and associated works. The project is classified as domestic.
Projected Impact
The company views this order as a key step in entering a ‘unique club’ of HVDC transformer manufacturers globally. The company expects this order to enhance their opportunities within the HVDC segment.
Delivery Timeline
The delivery of the transformers is expected to be completed by the end of the next financial year.
HVDC Market Growth
The company highlighted that India’s HVDC transformer market is rapidly expanding due to renewable energy integration and the need for long-distance power transfer solutions.
Key Growth Drivers
The announcement identifies key factors driving market growth:
- Renewable Energy Integration: India’s renewable energy targets require efficient transmission.
- Grid Modernization and Stability: Projects boosting demand for HVDC systems.
- Transmission Network Expansion: Significant expansion plans that include new HVDC schemes.
- Cross-Border Transmission: Growing opportunities in regional power links.
- Technological Advancements: Demand for technologies like Voltage Source Converter (VSC).
Source: BSE