NYSE-listed GE Vernova, a global energy player plans to invest approximately Rs 140 crore ($16 million) in its listed Indian arm, GE Vernova T&D India, to expand its electrification manufacturing footprint, sending shares of the grid solutions higher by over 3 percent.
The investment is expected to be in advanced grid technologies - a segment that has seen growing demand - to enable reliable and secure delivery of electricity. “India continues to be a critical part of our global strategy—both for our customers and as a manufacturing hub,” said Johan Bindele, VP of Grid Systems Integration at GE Vernova.
This investment is part of GE Vernova's previously announced $4 billion capital expenditure plan for India through 2028.
The investment plan includes development of a new manufacturing line at the existing Chennai facility, along with a new Noida facility that will be operational by the end of 2025. The manufacturing line at the Chennai facility will be ready by early 2027, the company said.
GE Vernova added that its electrification equipment backlog has more than tripled over the past year, as there has been a strong demand for transformers, switchgear, and grid technologies, High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS).
HVDC and FACTS technologies help stabilise power grids and reduce transmission losses, thus making it easier to connect grids with renewable energy like solar and wind.
GE Vernova India said the new manufacturing line at the Chennai facility will make Line Commutated Converter (LCC) HVDC valves, and Voltage Source Converter (VSC) Static Synchronous Compensator (STATCOM) valves. These are are key components for the HVDC and FACTS systems.
Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India underscored that the investment comes at a time when transmission grids in India are being rapidly scaled up. "...the need for strong, smart, and flexible infrastructure has never been greater,” Zanzaria said.
LCC is used for long-distance, high-capacity power transmission, while VSC is more suitable for connecting renewable energy sources and grid stability.
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