India Transformer News

Recent industry report about India Transformer company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ India Transformer Market industry experts.

India Transformer News

  • January 2023: CG Power and Industrial Solutions Limited announced its plan to expand the manufacturing capacity of its power and distribution transformer units.
  • October 2022: Hitachi Energy India acquired a contract from NTPC Renewable Energy to supply power transformers for a 4.75 GW renewable energy park in Gujarat, which is part of India's largest solar park.
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  • August 2023: Eaton announced plans to add capacity to increase supplies of essential power distribution equipment to support infrastructure projects across industries. The company’s considerable recent investments enrich its manufacturing facilities for switchgear and switchboards, which provide the power backbone for clients across the Americas.
  • May 2022: Schneider Electric announced the launch of its new SureSeT MV switchgear offering for the North American market. The unique and improved solution, backed by the innovative and award-winning EvoPacT circuit breaker, replaces the Schneider Electric Masterclad solution for primary switchgear applications with a smaller, more robust, and more creative solution for managing day-to-day digital operations.
  • May 2023: Akuo and Atlantica Sustainable Infrastructure announced the successful closure of financing and the commencement of construction for a portfolio of nine photovoltaic power plants in Chile. The portfolio, with a total capacity of 80 MWp, will be in the south of Santiago de Chile, in the Regions of Maule, Ñuble, Araucanía, and Biobío. Upon completion, the power plants will likely deliver electricity to about 60,000 households and support the country in diversifying its electricity mix, which currently laboriously relies on fossil fuels.
  • February 2022: Czech renewable energy company signed an agreement with Black Rock to develop solar PV projects in Chile. The company will likely provide operation and maintenance services for the projects.
  • In March 2023, Larsen & Turbo business won an order to establish 765kV gas-insulated and air-insulated substation bays at the pooling and remote end substations in the Kurnool district of Andhra Pradesh, India, where gigawatts of solar and wind energy generation projects are being developed.
  • In April 2022, General Electric (GE)'s Grid Solutions secured a contract to construct substations for ReNew Power's Koppal-Narendra transmission project in Karnataka. The contract for the Koppal-Narendra project connected by GE's Grid Solutions business entails the construction of a 400/220KV air-insulated substation at Koppal, a 400KV gas-insulated switchgear (GIS) substation at Narendra and two 125 MVAr 400KV reactors for each of Koppal and Narendra substations.
  • January 2023, Germany's Ministry of Environment announced plans to send proposals to the cabinet soon for the country to withdraw from the usage of crop-based biofuels to accomplish decreases in greenhouse gases. 
  • March 2022: Rossi Biofuel Zrt, a subsidiary of the ENVIEN Group, inaugurated a new biodiesel plant in Hungary. This plant was built by BDI-BioEnergy International GmbH. The facility is a multi-feedstock plant in Komárom, Hungary. The new plant has 60,000 tons per annum capacity, and thus, the total biodiesel production capacity of the company increased from 150,000 to 210,000 tons per annum.
  • January 2023: The construction of MET Gerjen Solar Park and MET Söjtör Solar Park was successfully concluded, and both solar power plants, with a combined capacity of 96 MWP, officially commenced commercial operations. These investments span a total area of 170 hectares across the two municipalities in Hungary. Completing these projects involved installing nearly 180,000 solar panels, solidifying their significant contribution to the country's renewable energy infrastructure.
  • May 2022: MVM Group, the state-owned energy company in Hungary, revealed plans to construct 28 new solar power plants, each with a capacity of 0.5 MW. The European Union partly funded this investment, aligning with the company's mid-term strategy to advance the adoption of renewable energy sources in Hungary. The project aligns with the country's commitment to achieving its 2050 climate goals and transitioning to a greener energy landscape. The newly planned solar power plants are expected to commence commercial operation in the coming year, contributing to the expansion of renewable energy generation in Hungary.
  • February 2023: United States Company signed a letter of intent with the Uttar Pradesh state government ahead of the Global Investors' Summit (GIS) to invest USD 99.65 million in the new technology. The company has signed 269 letters of intent ( LoI) so far to invest in the renewable energy sector in Uttar Pradesh.
  • February 2023: in its pursuit of meeting the growing electricity demand with renewable sources, India approved its largest hydropower project in the mountainous northeastern region neighboring China. The government has greenlit an estimated investment of USD 3.9 billion for the Dibang project, which will have a capacity of 2,880 megawatts.
  • December 2022: the Government of India, in collaboration with the Solar Energy Corporation of India Limited (SECI) and the World Bank, finalized agreements for financial support. These agreements include a loan of USD 150 million from the International Bank for Reconstruction and Development (IBRD), a loan of USD 28 million from the Clean Technology Fund (CTF), and a grant of USD 22 million from the CTF. This funding aims to assist India in augmenting its power generation capacity by leveraging cleaner and renewable energy sources.
  • April 2023: Cepsa awarded a contract for the engineering, procurement, and construction management support of the second-generation (2G) biofuels plant in southern Europe to the Técnicas Reunidas. This new plant will use agricultural waste and used cooking oils as feedstock. it will have two pre-treatment units and a flexible production capacity of around 500,000 tons of renewable diesel and sustainable aviation fuel (SAF) for use in air, sea, and land transport.
  • January 2023: Zagros Petrochemical Company and China's Dalian Petrochemical Company entered into the deal to establish a methanol-to-synthetic ethanol conversion plant in Iran, which would be the first plant of ethanol for Iran. The plant is estimated to have a production capacity of 300,000 tons and would be commissioned within three years.
  • In March 2023, for the first time in Southeast Asia, a tidal-energy demonstration outside the grid in Singapore began generating power. NYK participated in this demonstration project, which is being run by Bluenergy Solutions, a marine renewable energy solutions developer, off Raffles Lighthouse on Satumu Island, some 14 kilometers off Singapore's main island. The project's goal is to commercialize tidal energy generation and supply.
  • In March 2023, Walton Marina helped BigMoon Power with its tidal energy project in Minas Basin. The company is set to use the facility to launch anchors for its floating machinery.
  • In September 2022, Sabella, a French company, formed a strategic cooperation with the state-owned Indonesian corporation PT PLN (Persero) and PT Meindo Elang Indah to conduct a feasibility study for the creation of the world's first tidal energy farm in the world's largest archipelagic state.
  • In February 2023, Ibereolica Repsol Renovables Chile began producing electricity at the 165-MW Atacama wind farm. It plans to generate around 450 GWh per year, equivalent to the annual consumption of more than 150,000 Chilean families and avert 320,000 metric tons of CO2 emissions.
  • In December 2022, FairWind was chosen as the installation partner for Horizonte Wind Park in Chile, the largest onshore wind farm in Latin America under development. 140 Enercon E-160 EP5 wind turbines will be installed beginning in February 2023 and will be completely operational in May 2024.
  • In November 2022, Enel's renewables division started work in Chile on a project combining wind turbines and a 34-MW battery energy storage system (BESS). Enel Green Power Chile is investing USD 190 million in the project, which includes 224.8 MW wind turbines and a 34.3 MW lithium-ion BESS.
  • January 2023: MingYang announced the invention of its next flagship offshore wind turbine, MySE 18.X-28X. The massive generator grows up to 70 floors and occupies the area of nine football fields with its vastness. Its 140-meter-long blades are anchored on a rotor with a diameter of over 280 meters. A single rotation can swiftly provide electricity to thousands of residents.
  • May 2022: China National Offshore Oil Corporation officially started constructing the floating body of a far-reaching offshore floating wind power platform at the construction site of CNOOC Qingdao at Wenchang, Hainan Province, China. The project is being developed by CNOOC Rongfeng Energy Co. Ltd, affiliated with the new energy branch of CNOOC Beijing, China.
  • April 2022: Hitachi Energy installed a unique transformer in China's first floating wind turbine, the Sanxia Yinling Hao (Three Gorges Lead) wind turbine. This 5.5-megawatt wind turbine, installed off the coast of Guangdong Province, was installed in December 2021 at Yangjiang wind farm. Hitachi Energy specifically designed this transformer for floating wind turbines. It can handle high vibrations and accelerations and avoid oil spills due to dry operation.

Transformer Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)