Hitachi Energy India Limited (Hitachi Energy) has won a contract from Ayana Renewable Power one of the leading Independent Power Producers in the country to provide a grid connection solution for their upcoming 300-megawatt (MW) solar photovoltaic power plant in Bikaner, Rajasthan, the company on Thursday announced through an exchange filing.
Hitachi Energy has been working closely with Ayana Renewables for this project to co-create an optimized solution that meets the safety, quality and technical requirements of Solar Energy Corporation of India, the end-user of the renewable plant.
Engineering, procurement and construction management package
Hitachi Energy will provide an engineering, procurement and construction management package that collects all the power generated by the plant and transfers it into the national transmission system safely and reliably. The project is scheduled to be commissioned in March 2024.
"This project from Ayana Renewable Power is another step towards an integrated renewable energy system. The world is rapidly realizing that renewable energy is essential to deliver on the promise of a carbon-neutral future while maintaining energy security. This is where a robust integrated renewable energy system plays a crucial role in connecting all dots, to address the growing energy needs sustainably," said N Venu, Managing Director and CEO, India and South Asia, Hitachi Energy.
India is on a steadfast track to source 50 percent of its electricity capacity from non-fossil sources by 2030, which aligns with the country's ambitious target of achieving net zero emissions by 2070. According to CEEW-CEF , in FY23, renewable energy dominated India's power generation capacity expansion.
A total of 17GW was installed during the year and 92 percent of which were powered by renewables. And of which solar (grid-scale and rooftop) contributed 84 percent of newly added renewable energy capacity. As of July 2023, the country has a combined installed capacity of 179GW from renewable energy sources.
In this project, the power system is maintenance-ready being factory fitted with the RelCare digital platform and comes with EnCompass™ Service Agreement baseline to safeguard reliability and availability to operations. The new digitally-enabled service solution seeks to offer an enhanced customer experience for a period of one year and the whole lifecycle through minimizing the risk of incidents and contributing to the highest availability.
Hitachi Energy India Limited shares
The shares of Hitachi Energy India Limited on Thursday at 2:46 pm IST were at Rs 4,483.90, up by 3.03 percent.