Hitachi Energy changes name of India unit
ABB Power Products & Systems India Ltd. has changed its name to Hitachi Energy India Ltd. following the recent rebranding of its parent to Hitachi Energy.
The business continues to be listed on India’s stock exchanges.
The company views India among its top five markets for expansion – a country which has significant potential in renewable energy, smart grids, grid modernisation, and the electrification of transportation and industries including data centers.
Company’s CEO Claudio Facchin said, “We are championing the urgency of a clean energy transition through innovation, collaboration and through the combination of IT, operational technology (OT), products and services that can be deployed today.”
In the next five years, the company is aiming to augment its grid integration portfolio through power quality solutions and system studies, supporting the modernization of grids, it said.
N Venu, Managing Director and CEO, Hitachi Energy India Ltd., said, “About 80 % of our products are manufactured locally and we are the single-point source for Hitachi Energy’s global supply of certain products.”
“We believe in India’s fundamental growth drivers and are increasing our footprint, opening new factories and expanding existing ones. As part of vision 2025, we aim to boost the digitalisation of our products, consultancy and services, and exports in high-growth segments to drive India’s energy transition,” he added.