Hitachi Energy Plans to Invest Rs 2,000 Crore in India's Power Sector

09 Oct 2024

Hitachi Energy Ltd., a global technology leader, announced plans to invest ?2,000 crore in the coming years to strengthen India's power supply infrastructure as the nation shifts toward green energy, according to a statement released on Monday.

Hitachi Energy India Ltd, the Indian arm of Hitachi Energy, will prioritise technology for sustainable power transmission in the country. Additionally, it will concentrate on green mobility solutions, particularly in developing charging infrastructure for public transportation.

Regarding the upcoming launch of the green mobility portfolio in India, the Zurich-based company stated, "These intelligent mobility solutions will promote safe, sustainable, and efficient transportation in India, particularly for mass public transit and commercial vehicle fleets. These technological advancements will play a vital role in advancing the nation's efforts to achieve its net-zero ambitions."

Hitachi's announcement comes shortly after the launch of the PM E-Drive, a subsidy program for electric vehicles (EVs) that highlights public transportation, particularly electric buses for intercity travel. A report noted that almost 40% of the ?10,900 crore budgets will be allocated to electric buses.