Claudio Facchin, CEO of Hitachi Energy, stated that the company would consider partnerships and acquisitions in India to expand into fresh fields like battery storage technology and other developing areas in the energy sector.
The Zurich-based corporation acquired most of ABB Power Grids in 2020, launching Hitachi Energy India as a separate company. The MD and CEO for Hitachi Energy, India and South Asia, N. Venu and Facchin, stated in an interview that the business would also boost its investments in the nation.
On Tuesday, Doddaballapur, Bengaluru, opened a brand-new plant to produce high-quality power products. The senior executives also discussed the significance of India in the context of the push for net zero and the significance of straightforward and understandable regulatory frameworks in the interview.
What can we anticipate in terms of India’s expansion?
Facchin: 80% of the Hitachi portfolio is already localised and accessible in India, according to a global analysis. We will diversify our portfolio globally following our 2030 goal, so there is room to take advantage of India. India will be crucial to that global expansion in terms of quantity, scope, and technologies.
Not only do we have excellent talent here, which is important to us, but this market also has a strong awareness of the various components and what must take place for this energy transition to be realised. Regarding the current portfolio, there are still some places where we will need to take further action to finish the final 20%. The question of how to put ourselves up so that our future portfolio will be bigger in that sense, allowing us to support this energy transition for our customers to look at those sectors, is more crucial when looking a little further than the next two years.