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Business Standard
14-05-2025
- Business
- Business Standard
GE Vernova shares up 5% on ₹140 crore capex plans to expand footprint
Shares of GE Vernova T&D India rose nearly 5 per cent on Wednesday on the company's plans to invest ₹140 crore to expand the manufacturing footprint in India. GE Vernova's stock rose as much as 4.8 per cent during the day to ₹1,778.4 per share, the highest level since February 6 this year. The stock pared gains to trade 3.7 per cent higher at ₹1,757 apiece, compared to a 0.31 per cent advance in Nifty 50 as of 1:28 AM. Shares of the company extended gains to their sixth day and have risen by over 40 per cent from its lows of ₹1,254, which it hit early April. The counter has fallen 15 per cent this year, compared to a 4.5 per cent rise in the benchmark Nifty 50. GE Vernova has a total market capitalisation of ₹44,938.7 crore, according to BSE data. Capex plans The energy manufacturing firm will invest ₹140 crore ($16 million) in India to expand its electrification manufacturing and engineering footprint, it said in an exchange filing. The investment will be made specifically in advanced grid technologies that enable stable, reliable, and secure delivery of electricity, it added. These expansions are expected to enhance manufacturing capabilities and key next-generation equipment used in modern transmission systems, the company said in the statement. These new expansions will focus on High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS) technologies, it added. GE Vernova's Electrification equipment backlog has more than tripled over the past year, Johan Bindele, vice president of Grid Systems Integration at GE Vernova, said in the filing. "These new expansions are aimed at enhancing our capabilities in the region, helping reduce supply chain dependencies, and allowing us to deliver faster, smarter solutions to customers in India and around the world.' About GE Vernova The company operates in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generation sources to the grid, offering utilities the tools needed to swiftly meet increasing demand. It offers products ranging from medium voltage to ultra-high voltage (1200 kv) for the power generation, transmission, and distribution industries. The firm posted a nearly 3-fold jump in its net profit to ₹142.68 crore in the December quarter compared to a year ago, mainly on the back of higher revenues. The company had a net profit of ₹49.35 crore in the quarter ended on December 31, 2023. Total income rose to ₹1,099.45 crore during the third quarter against ₹834.72 crore a year ago.
Time of India
14-05-2025
- Business
- Time of India
GE Vernova to invest ₹140 crore to expand grid tech footprint in India
New Delhi: GE Vernova on Wednesday announced plans to invest approximately ₹140 crore ($16 million) in India to expand its electrification manufacturing and engineering footprint, with a focus on advanced grid technologies. The investment will be made by GE Vernova T&D India Limited, the listed entity of GE Vernova's Electrification business in India. It includes the development of a new manufacturing line at the company's existing facility in Chennai (Pallavaram) and a new engineering and test lab in Noida. These expansions aim to enhance the ability of GE Vernova T&D India to manufacture and test key next-generation equipment used in modern transmission systems, to support India's energy transition and export demand from other fast-growing economies. The facilities will focus on High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS)—technologies used to stabilize power grids, reduce transmission losses, and enable integration of renewable energy sources such as wind and solar. 'India continues to be a critical part of our global strategy—both for our customers and as a manufacturing hub,' said Johan Bindele, VP of Grid Systems Integration at GE Vernova. 'GE Vernova's Electrification equipment backlog has more than tripled over the past year—driven by strong demand for transformers, switchgear, and grid technologies including HVDC and FACTS. These new expansions are aimed at enhancing our capabilities in the region, helping reduce supply chain dependencies, and allowing us to deliver faster, smarter solutions to customers in India and around the world.' 'With energy demand rising and more renewables being added to the grid, the need for strong, smart, and flexible infrastructure has never been greater,' said Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India Limited. 'Through this investment, we are strengthening our ability to deliver technologies that help utilities move more power, with fewer losses, over longer distances—and do it more sustainably.' The new manufacturing line at the Chennai facility will produce Line Commutated Converter (LCC) HVDC valves and Voltage Source Converter (VSC) Static Synchronous Compensator (STATCOM) valves. LCC is used for long-distance, high-capacity power transmission, while VSC is suitable for connecting renewable energy sources and providing grid stability. In Noida, GE Vernova T&D India will set up a new engineering and test lab to support design and system validation, as well as to supply control systems for real-world grid conditions. The Noida lab is expected to be operational by the end of 2025, and the new manufacturing line at the Chennai facility by early 2027. The investment is part of GE Vernova's broader 'Asia for Asia' strategy and is included within the company's previously announced $4 billion global capex plan through 2028. The strategy focuses on building local manufacturing capacity to serve regional needs and strengthen global supply chains. It also aligns with India's renewable energy goals and promotes domestic production of grid technologies. GE Vernova T&D India currently operates five manufacturing facilities across the country and has been serving the Indian grid for over a century.
Time of India
14-05-2025
- Business
- Time of India
GE Vernova to invest Rs 140 crore to expand manufacturing in India
GE Vernova on Wednesday announced plans to invest Rs 140 crore through its listed Indian arm, GE Vernova T&D India, to expand its manufacturing footprint in the country. The investment aims to meet the growing demand for advanced grid infrastructure. The expansions are expected to enhance the ability of GE Vernova T&D India Ltd to manufacture and test key next-generation equipment used in modern transmission systems, supporting both India's energy transition and export demand from other fast-growing economies, a company statement said. The investment plans will help GE Vernova to expand its electrification manufacturing and engineering footprint in India, specifically, advanced grid technologies that enable stable, reliable, and secure delivery of electricity, according to the statement. The investment will be made by GE Vernova T&D India Ltd, the listed entity of GE Vernova's electrification business in India and includes the development of a new manufacturing line at its existing facility in Chennai (Pallavaram) and a new facility in Noida. The new expansions will focus on High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS) technologies, which help stabilise power grids, reduce transmission losses, and make it easier to connect renewable energy like solar and wind. Live Events These systems are critical for getting renewable energy from where it's generated, often in remote areas, where it's needed most -- cities, industries, and communities. "India continues to be a critical part of our global strategy --both for our customers and as a manufacturing hub," said Johan Bindele, VP of Grid Systems Integration at GE Vernova. "With energy demand rising and more renewables being added to the grid, the need for strong, smart, and flexible infrastructure has never been greater," said Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India. The new manufacturing line at the existing Chennai facility will produce Line Commutated Converter (LCC) HVDC valves and Voltage Source Converter (VSC) Static Synchronous Compensator (STATCOM) valves. These valves are key components of advanced HVDC and FACTS systems. LCC is typically used for long-distance, high-capacity power transmission, while VSC is more suitable for connecting renewable energy sources and providing grid stability. In Noida, GE Vernova T&D India will set up a new engineering and test lab to support design and system validation for these solutions, as well as supply control systems ensuring quality and performance in real-world grid conditions. The Noida lab is expected to be operational by the end of 2025, and the new manufacturing line at the Chennai facility by early 2027. As part of GE Vernova's previously announced USD 4 billion cumulative capital expenditure plan through 2028, this investment is part of the company's broader "Asia for Asia" strategy. The initiative aims to build localised manufacturing capacity to better serve regional needs while contributing to global supply chain resilience. It also supports India's ambition to become a renewable energy leader by expanding access to "Make in India" technologies that power everything from homes to factories with more efficiency and less environmental impact. GE Vernova T&D India currently operates five manufacturing facilities across the country and has served the Indian grid for over 100 years.
