Latest news with #HVDC
Trade Arabia
11 hours ago
- Business
- Trade Arabia
Aker Solutions wins BalWin2 wind project contract
Aker Solutions has signed a significant contract with Dragados Offshore to deliver the steel substructure for the 2GW HVDC converter station for the BalWin2 offshore wind grid connection system in Germany, developed by Amprion Offshore. With this contract award, Dragados has exercised the option for the second HVDC converter station for the BalWin development in Germany. "We are proud that Dragados Offshore has selected Aker Solutions as the contractor for the second BalWin steel substructure. This will enable us to leverage our standardization and industrialization efforts to increase productivity and drive down costs,' said Sturla Magnus, Executive Vice President for Aker Solutions' New Build segment. Fabrication of the HVDC substructures will be executed by Aker Solutions' yard in Verdal, Norway. At its peak, the project will employ over 450 people. For Aker Solutions, the scope involves procurement, fabrication engineering and construction of the offshore HVDC converter platform substructure. Preparation will commence Q1 2026, while construction is scheduled to begin in Q1 2027, with delivery in 2029. Aker Solutions will book the award as order intake in the second quarter of 2025 in the Renewables and Field Development segment.
Zawya
4 days ago
- Business
- Zawya
Oman to study electrical interconnection with Yemen, Iran
Oman is studying grid interconnections with Yemen and Oman, according to local media reports. Iran and Oman signed a Memorandum of Understanding on 27 May 2025 to review the feasibility study for an electrical interconnection project during the official visit of the Iranian President to the Sultanate. A techno-economic feasibility study on connecting Iran and Oman through HVDC cables was conducted by Monenco Iran Consulting Engineers in 2018 but was not pursued. Meanwhile, local English language newspaper Oman Daily Observer reported on Wednesday that Monenco has been awarded a feasibility study contract for the Oman-Yemen interconnection project by the Sultanate's national grid operator Oman Electricity Transmission Company (OETC). A second interconnection between Oman and UAE as part of the regional GCCIA grid is in the design stage, according to the report. (Writing by Sowmya Sundar; Editing by Anoop Menon) (
Al Borsaa
7 days ago
- Business
- Al Borsaa
"أكور" الفرنسية تستكمل المرحلة الأولى من برنامج إعادة شراء الأسهم
Join our IT Team supporting the Grid Integration HVDC business in Ludvika, part of Hitachi Energy. HVDC specializes in innovative and reliable solutions for power transmission and distribution, supporting efficient and sustainable energy systems worldwide. As a Site IT/OT Service Delivery Specialist in Ludvika, you will support IT/OT solutions and services, working closely with business leaders and IT stakeholders. Your role includes managing IT infrastructure, applications, and ticket escalations, as well as supporting both office and shop floor IT/OT assets. You will be working in close collaboration with the Service Delivery Specialist for HVDC Ludvika, ensuring business needs are met and overall satisfaction with IT services. Additionally, you will play a crucial role in integrating IT with the business operations, enhancing connectivity and cybersecurity for all operational technologies. 'This is a new, dynamic and fast-moving area where you will have the opportunity to influence and grow in the role and within the company. '– Britt Marie Gustafsson, GPG HVDC IT Service Delivery Manager. How you'll make an impact Collaborate with cross-functional teams to support the business in their growth Overseeing and acting as a point of contact for the IT/OT environment and responding to emergencies Supporting the Service Delivery Specialist who is responsible for the HVDC site in Ludvika Participate in planning, developing, implementing and maintaining the HVDC IT/OT environment You are a team player who can also handle tasks independently and take on responsibility You have a willingness to learn and try new things and enjoy collaborating with others Your background You have 3-5 years of work experience, ideally in a similar role Experience with manufacturing operations methods, processes, and change management is an advantage You have experience handling complex stakeholder scenarios and cross-functional problem solving. You also have a solid understanding of IT procedures, policies, and end-to-end business processes Hands-on, installation, troubleshooting etc. on applications & infrastructure You are fluent in English and Swedish What we offer Collective agreement Flexible working time Health care and wellness allowance Fantastic career possibilities within Hitachi Energy both within Sweden and globally Mentor to support you throughout onboard phase Various trainings and education supporting employee development Diversified company with over 70+ nationalities working in Sweden Supplementary compensation for parental leave Employee Benefit Portal with thousands of discounts and perks More about us Are you ready for a new exciting challenge? Does the above description sound like you? Welcome to apply! Applications will be reviewed on an ongoing basis, so don't delay – apply today! Recruiting Manager Britt-Marie Gustafsson, will answer your questions about the position. Union representatives – Sveriges Ingenjörer: Philip Bengtsson, +46 107-38 25 17; Unionen: Karin Ulvemark, +46 107-38 51 42; Ledarna: Frank Hollstedt, +46 107-38 70 43. All other questions can be directed to Talent Acquisition Partner Fredrik Söder,
Yahoo
24-05-2025
- Business
- Yahoo
GE Vernova T&D India Ltd (BOM:522275) Q4 2025 Earnings Call Highlights: Record Order Intake ...
Order Intake: INR29.9 billion in Q4, up 124% year-on-year from INR13.3 billion. Revenue (Q4): INR11.5 billion, up 26% year-on-year from INR9.1 billion. Revenue (FY24-25): INR42.9 billion, up 35% year-on-year from INR41.7 billion. Order Backlog: INR126.6 billion as of March '25, doubled from INR62.7 billion as of March '24. Profit Before Tax (Q4): INR2.5 billion, compared to INR1.01 billion in the previous year. Profit Before Tax (FY24-25): INR8 billion, up from INR2.6 billion in FY23-24. Cash and Cash Equivalents: INR10.5 billion as of March 31, up from INR2.8 billion as of March 31, '24. Cash Generated (Q4): INR1.9 billion. Cash Generated (FY24-25): INR8.3 billion. EBITDA (Q4): INR2.5 billion, representing 21.9% of revenue. EBITDA (FY24-25): INR8.1 billion, representing 19.1% of revenue. Warning! GuruFocus has detected 1 Warning Sign with BOM:522275. Release Date: May 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. GE Vernova T&D India Ltd (BOM:522275) reported significant revenue growth, with Q4 revenue increasing by 26% year-on-year to INR11.5 billion. The company achieved a substantial increase in order intake, with Q4 orders reaching INR29.9 billion, up by 124% year-on-year. The order backlog doubled to INR126.6 billion as of March 2025, indicating strong future demand. The company announced a strategic investment of INR400 million to enhance manufacturing capabilities for HVDC technologies, positioning it well for future growth. GE Vernova T&D India Ltd (BOM:522275) maintained a strong cash position, with cash and cash equivalents at INR10.5 billion as of March 31, 2025. The company faces challenges in the supply chain due to global demand and political uncertainties, which could impact operations. There is a risk of pricing stability in the transformer market, with limited room for further price increases. The company has a significant portion of its order backlog tied to long-term projects, which may delay revenue realization. The company's focus on product orders over turnkey projects could limit its market opportunities in certain segments. The company has not yet secured any STATCOM projects in India, despite the growing importance of this technology in renewable energy integration. Q: How much of the existing backlog of INR127 billion is executable within the next 18 months? A: Approximately INR85 billion of the order backlog is executable within 1.5 to 2 years. The remaining INR30 billion consists of longer-term projects with execution timelines of three to five years. Additionally, there are orders that are received and executed within the same financial year. Q: Could you share the timeline for new HVDC projects, especially for FY26? A: We expect at least one to two HVDC projects to be funded during this year. The transmission committee is reviewing projects, and we anticipate some approvals soon. Q: What explains the strong gross margin performance, and is it sustainable? A: The strong gross margin of 42% in Q4 was due to better pricing, a strategic shift towards product orders, and increased export revenue. While quarterly margins can vary, we aim to sustain the annual gross margin of 40.4% achieved this year. Q: Is the new factory for HVDC components necessary to participate in upcoming domestic opportunities? A: While not a requirement, the new factory will enhance our competitiveness and local presence, which is beneficial for meeting Make in India criteria and improving customer confidence. Q: How do you see the overall Total Addressable Market (TAM) growing for non-HVDC high-voltage and export segments? A: We anticipate a 20% CAGR in the non-HVDC space, driven by government plans and global energy transition trends. The export market is also expanding, with opportunities in Europe, Southeast Asia, and Africa. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Time of India
23-05-2025
- Business
- Time of India
India's power transmission body flags regulatory hurdles in equipment procurement
India's power transmission sector is facing acute supply-side bottlenecks, especially in procuring High Voltage Direct Current (HVDC) equipment critical for carrying renewable energy over long distances, raising concerns over the country's ability to meet its 2030 renewable energy targets. The Electric Power Transmission Association (EPTA) has urged the Power Ministry to provide a level-playing field in procurement policies, highlighting a regulatory mismatch that allows renewable energy (RE) developers to bypass subcontracting restrictions, while transmission companies remain bound by them. The association has called for a temporary exemption from these restrictions until December 2030, to help transmission developers procure key HVDC components without delay. 'This mismatch between generation and transmission is hurting the overall power sector and delaying addition of capacity,' said an official from a leading transmission company, reported PTI. According to the official, while RE projects are built in 12–18 months, transmission lines often take 3–4 years, and HVDC systems even longer. The issue stems from restrictions on suppliers and subcontractors from countries sharing land borders with India, particularly China, which is a major source of HVDC equipment. Although these curbs apply to central ministries, autonomous bodies, and public-private partnership (PPP) projects, they also extend to transmission developers operating under the fully privately funded Build-Own-Operate-Transfer (BOOT) model, leaving them similarly affected. The EPTA noted that renewable developers are exempt from these restrictions, following a 2022 clarification by the Ministry of New and Renewable Energy. It stated that while SECI's procurement qualifies as public procurement, the contracts don't fall under 'works contracts,' thereby allowing unrestricted subcontracting, including from China. Transmission developers, on the other hand, continue to face full restrictions under tariff-based competitive bidding (TBCB). 'Despite TBCB projects not being PPPs, the transmission service providers cannot procure or subcontract from countries sharing land borders with India, thereby severely limiting supplier choices,' said an industry official. This asymmetry, industry players say, has created a systemic gap between RE generation and transmission readiness, particularly in HVDC-dependent regions like Rajasthan and Khavda in Gujarat. At present, only two domestic OEMs offer LCC-based HVDC systems, while global manufacturers in Europe and the US are booked until 2030, amid surging renewable installations in the West. As a result, the constrained market is pushing project costs higher, with tariffs reaching up to 17% above levelised rates, and project timelines extending up to six years. 'HVDC projects are vital for renewable energy development, and must be governed by the same procurement norms as RE projects,' EPTA said in its representation to the Power Ministry. Data from two recently concluded HVDC bids show that it took 19 months just to finalise the tender, with an overall implementation window of 54 months. The Central Electricity Regulatory Commission (CERC) has also acknowledged the issue, noting that HVDC component supply constraints are inflating project costs and justifying higher bids. Calling for urgent policy harmonisation, EPTA Director General G P Upadhyaya said: 'A systemic gap has emerged between generation readiness and transmission infrastructure timelines, particularly for HVDC-dependent RE zones like Rajasthan and Khavda in Gujarat. The timely execution of HVDC systems is a critical path for achieving India's renewable energy targets.' With inputs from PTI
