The equipment will be manufactured at Hitachi Energy’s transformer facility in Maneja, Vadodara, aligning with the government’s “Make in India” initiative.
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According to the company, India’s demand for power transformers has been growing at an average annual rate of 15% over the past two years, driven by surging demand from renewable energy, industrial electrification, and electric transport.“From a technology provider perspective, this shift helps us plan capacity investments, reserve supply chains, and ensure timely delivery,” said N Venu, Managing Director and CEO, Hitachi Energy India. He added that the company is leveraging global expertise and local capabilities to support the country’s energy transition.
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Ultra-high-voltage alternating current (UHVAC) transformers like the 765 kV units are critical to transmitting large amounts of electricity over long distances while reducing energy loss and land use. Once operational, these transformers will support the transmission of electricity to approximately 30 million households, the company said.Higher voltage also helps cut operating costs and improves grid reliability, making it easier for utilities to meet rising electricity demand efficiently. Delivery will follow Power Grid’s infrastructure development timeline.In a separate milestone, Hitachi Energy recently completed successful testing of a 765 kV/400 kV single-phase 250 MVA transformer filled with natural ester—marking a global first at this voltage and capacity. Natural ester is a biodegradable, safer alternative to traditional mineral oils used in transformers.
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Hitachi Energy India share price target
According to Trendlyne, the average target price for Hitachi Energy India is Rs 16,363, implying a potential downside of around 16% from current levels. Of the 10 analysts covering the stock, the consensus rating remains ‘Buy’.
Hitachi Energy India shares closed 1.15% lower at Rs 19,407 on the BSE on Thursday. The stock has surged nearly 60% over the past three months and has delivered multibagger returns of 365% in two years and 520% over the past three years.
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