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ABB wins $900 order mn from Power Grid Corp

ABB wins $900 order mn from Power Grid Corp
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First Published: Wed, Mar 23 2011. 05 25 PM IST
Updated: Wed, Mar 23 2011. 05 25 PM IST
Zurich: Swiss engineering group ABB has clinched a $900 million order — it’s largest single order ever — from the Power Grid Corporation of India Ltd to deliver an ultrahigh-voltage transmission system.
ABB, which sells power equipment to utilities, as well as to oil and gas companies, said the link would supply hydropower from northeastern India to the city of Agra, covering a distance of 1,728 kilometres.
“When operating at full capacity, the link will be able to supply enough electricity to serve 90 million people based on average national consumption. Using ultrahigh-voltage minimizes transmission losses and improves efficiency,” ABB said in a statement.
Bhel (Bharat Heavy Electricals Limited), a leading Indian government-owned power company will deliver the remainder of the North-East Agra transmission project, which is worth more than $1.1 billion in total, ABB said.
The order, which will be booked on completion of financing requirements, is the group’s largest single order, topping one worth $700 million for an offshore wind farm from the German grid.
ABB has been seeking to bolster its position in India, where it is facing increasing competition from local rivals, and last year spent nearly $1 billion buying its local subsidiary ABB India with the hope of using it as a production hub.
India’s move to invest in hydropower comes as the nuclear crisis in Japan has re-sparked interest in renewable sources of energy.
Many countries are starting to look at how they can lower carbon emissions in the fight against climate change and still meet energy demands as the future of nuclear power starts to look more uncertain.
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First Published: Wed, Mar 23 2011. 05 25 PM IST