Shares of Hitachi Energy India surged 9%, whereas the shares of Bharat Heavy Electricals (BHEL) increased 2% on 26 November after both companies announced securing the Khavda Nagpur HVDC project from Power Grid Corporation.

In its regulatory filing, BHEL said, “A consortium of M/s Bharat Heavy Electricals Limited (BHEL) and M/s Hitachi Energy India Limited has been awarded the contract for the establishment of + 800, 6000MW High Voltage Direct Current (HVDC) terminal stations at Khavda Pooling Station-2 (KPS2) (HVDC) & Nagpur (HVDC) for evacuation of renewable power from Khavda region in Gujarat to Nagpur in Maharashtra.”

BHEL stated that the order must be fulfilled by 2029, even though Hitachi Energy did not indicate this in the submission. The filing did not disclose the deal’s value.

Through a tariff-based competitive bidding (TBCB) process, Power Grid Corporation of India was able to secure the Khavda Phase V: Part A power transmission project. BHEL and Hitachi Energy India were then chosen to implement bi-directional parallel HVDC bipoles and related AC substations for power evacuation. 

The project contributes to the nation’s 500GW renewable evacuation and transmission plan by being a part of the interstate transmission system (ISTS) for the evacuation of 8GW of renewable energy from Gujarat’s Khavda Renewable Energy Zone under Phase V: Part A.

Founded in 1964, BHEL is a public engineering and manufacturing enterprise based in New Delhi, India. It specializes in the design, production, and maintenance of machinery and systems for the transmission, energy, power generating, and infrastructure industries.

One multinational technology company that specializes in automation and electrical power solutions is Hitachi Energy India. It belongs to the global company Hitachi Group and is a subsidiary of Hitachi Energy. 

At 12:51 pm, the shares of Hitachi Energy India were trading 8.34% higher at Rs 12,399.45, while BHEL shares were trading 1.48% higher at Rs 244.78 on NSE.

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