Hitachi Energy India Ltd has triumphed over orders exceeding Rs 160 crore for its key electric components to back the electrification of the country’s rail routes. The shares of the company were at Rs 2,800.00 (+143.65) with a 5.41% jump today on NSE.
“Electricity will be the backbone of the entire energy system and at Hitachi Energy, we are committed to the accelerated electrification and decarbonization of the world’s transportation and rail sectors,” said N Venu, Managing Director and CEO, Hitachi Energy India Ltd.
He added, “Indian Railways is a longstanding customer of Hitachi Energy and these orders are further evidence that Hitachi Energy is regarded as a trusted partner of choice for the rail industry. A clean and reliable electric rail network is fundamental for India to build back better, supporting the movement of people and goods whilst reducing the environmental impact.”
India’s COP26 commitment to shift to electricity for transport and reducing the economy’s carbon intensity by 45 per cent by 2030. Indian Railways’ efforts to electrify all the routes by 2023 are an important aspect of achieving these targets. For the significance of this, Hitachi Energy will operate its traction transformers that affect both train performance and operator services.
Indian Railways aims to gain 100 per cent electrification of broad-gauge routes by 2023. The government of India’s electric locomotive manufacturers, Chittaranjan Locomotive Works (CLW) and Diesel Loco Modernisation Works (DMW), part of Indian Railways, placed orders with Hitachi Energy for traction transformers for passenger and freight locomotives in the October-December 2021 period.
The electrification of rail is a key element of India’s drive towards net-zero carbon emissions. At the recent UN Climate Change Conference (COP26), India has reconsidered its commitment to locomoting electricity for transport and lessening the economy’s carbon intensity by 45 per cent by 2030.