Latest news with #powertransmission
Forbes
a day ago
- Business
- Forbes
Siemens Energy's Demerged India Unit In Stock Exchange Debut, Falls 5%
The Siemens Energy logo on flags at a branch of the company in the Neuperlach district of Munich, ... More Germany (Photo: Matthias Balk) Siemens Energy's demerged Indian unit - Siemens Energy India Limited or 'SEIL' - made its stock exchange debut on Thursday, in a keenly watched emerging market move by the German vendor. The lucrative unit's demerger from its parent company saw it debut at a listing price of ₹2,840 ($32.85) per share on the National Stock Exchange of India, already up 14% on its stated discovery price of ₹2,478. Its demerger price was in the region of ₹2,350. At one point intraday, the stock rose as high as ₹2,982 given the company is expected to be India's largest listed pure-play power transmission and distribution equipment provider. However, at end of day's session the stock closed 5% lower at ₹2,735. SEIL has a firm foothold in India's lucrative and burgeoning, but extremely competitive, energy market. It supports the integration of renewable energy, modernization of the national grid, and decarbonization of key industries. As India pursues its officially stated goal of achieving net-zero emissions by 2070, SEIL said it would be part of the government's 'Make in India' initiative. The company is making what it describes as 'significant investments' in India in expanding its local manufacturing footprint, including an investment of ₹4.6 billion ($53.2 million) in its Kalwa Transformers facility. In addition, SEIL has launched a 'competency hub' to 'foster innovation in energy technologies and position India as a global innovation leader.' (Left to right) Tim Holt, member of the executive board and labour director, Siemens Energy, ... More Guilherme Mendonça, MD and CEO, Siemens Energy India Limited, and Harish Shekar, executive director & Chief Financial Officer, Siemens Energy India Limited ringing National Stock Exchange of India's ceremonial bell, joined by Ashish Chauhan, MD and CEO, National Stock Exchange of India, and Sunil Mathur, chairman of the board, Siemens Energy India Limited, during the listing of Siemens Energy India Limited on the National Stock Exchange on June 19, 2025/ Guilherme Mendonca, managing director and chief executive officer of SEIL, said: "With this listing we reaffirm our long-standing commitment to India's energy future. As India advances toward becoming a $7 trillion economy, a strong and resilient energy system will be essential. "Siemens Energy India Limited with its dedicated team is ready to support this important journey for India and its people.' Furthermore, the company which employs more than 4,000 professionals, has ten manufacturing sites and eleven regional offices, also serves neighboring countries in the South Asian subcontinent including Bhutan, Nepal, Sri Lanka and Maldives. SEIL's successful listing is also welcome news for Siemens itself and its Siemens Energy sub-unit from which the Indian unit demerged and listed on Thursday. Depending on the stock's performance, a substantial windfall may follow. As things stand, Siemens subsidiaries hold 69% in SEIL and the subsidiaries of Siemens Energy hold 6% in Siemens Energy India Limited, with the remainder in free float for retail and institutional investors alike. It is a marked contrast Siemens Energy's wind unit - Siemens Gamesa - which has been buffeted by operational headwinds and losses in the face of competition from Chinese rivals who often undercut it on prices, as acknowledged by CEO Christian Bruch last year. That unit posted another quarterly loss in April of €249 million ($285 million). Ironically, the figure included a loss from disposal of a majority stake of Siemens Gamesa's Indian (and Sri Lankan) wind business. That happened in March, when Siemens Gamesa divested 90% of the business to a TPG-led investor group, while retaining a 10% stake. The deal included transferring approximately 1,000 employees and two manufacturing plants in India to the new company. However, Siemens Energy, via Gamesa, will continue to support the new entity through a long-term technology licensing agreement.
Zawya
4 days ago
- Business
- Zawya
Saudi: TADCO, SEC ink agreement for power transmission station
Riyadh - Tabuk Agricultural Development Company (TADCO) has signed an agreement with the National Electricity Transmission Company, a subsidiary of the Saudi Electricity Company. Under the agreement, which is valid until 31 December 2026 or until project completion, TADCO will establish a power transmission station for its farm in the Tabuk region, according to a bourse filing. The station, with a load capacity of 64 megavolt-amperes (MVA), will provide a stable electricity supply as part of the Kingdom's Liquid Fuel Displacement Program (LFDP). The initiative aligns with the objectives of the energy system as well as the environment, water, and agriculture systems to reduce reliance on liquid fuels in electricity generation. The project is expected to enhance operational efficiency, cut emissions, and improve network reliability without having a material financial impact on TADCO. In the previous year, TADCO named Majid Ahmed Ibrahim Al Suwaigh as Chairman of the board for a three-year term. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Entrepreneur
31-05-2025
- Business
- Entrepreneur
Adani Energy Wins INR 1,660 Crore Transmission Project in Maharashtra
This will take AESL's total transmission network to 26,696 circuit kilometers (ckm) and transformation capacity to 93,236 MVA, reinforcing its position as a key player in India's power transmission sector. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Adani Energy Solutions Ltd (AESL), India's largest private transmission and distribution company, has secured a major inter-state transmission project worth INR 1,660 crore in Maharashtra. According to a regulatory filing by AESL, the company will develop critical infrastructure to support green energy evacuation from hydro-based projects in the region. The project involves establishing 3,000 Mega Volt-Amperes (MVA) of substation capacity along with associated transmission infrastructure. This will take AESL's total transmission network to 26,696 circuit kilometers (ckm) and transformation capacity to 93,236 MVA, reinforcing its position as a key player in India's power transmission sector. The project will be executed under a Special Purpose Vehicle (SPV) named WRNES Talegaon Power Transmission Ltd, which was officially transferred to AESL today. The infrastructure is expected to be commissioned by January 2028 and will play a vital role in evacuating 1.5 gigawatts (GW) of green power generated from upcoming hydro Pumped Storage Projects (PSPs) in the region. This energy will serve the growing electricity demand of Mumbai and surrounding urban centers. The project was awarded through the Inter State Transmission System (ISTS) mechanism under Tariff Based Competitive Bidding (TBCB), with REC Power Development and Consultancy Ltd (RECPDCL) acting as the bid process coordinator. This win further strengthens AESL's portfolio and demonstrates its continued success in the competitive power transmission market. With this addition, the company's order book now stands at approximately INR 61,600 crore. AESL is part of the diversified Adani Group and is known for its strategic focus on building sustainable and high-capacity transmission networks across India. The company has consistently expanded its footprint through a combination of organic growth and competitive bidding, aligning with the country's larger shift towards renewable energy integration and grid modernization. By facilitating the transmission of hydroelectric power, the Talegaon project also contributes to India's broader decarbonization goals. It exemplifies AESL's role not just as a transmission company, but as an enabler of the country's energy transition.
Associated Press
09-05-2025
- Business
- Associated Press
Trench Group Expands in North America: Establishment of a New Bushing Production Facility for Transformers in Charlotte, USA
Trench Group GmbH, a global leader in the development and manufacturing of components and systems for high-voltage power transmission, is significantly expanding its development and production capacities in North America. A new factory for transformer bushings is currently under construction in Charlotte, North Carolina. HSP US, LLC, a subsidiary of Trench Group, will invest more than $60 million in establishing a facility that will manufacture cutting-edge technology to support the expansion of the U.S. power grid infrastructure. Production is scheduled to begin in early 2026, including components for the highest voltage levels up to 800 kilovolts (kV). To bridge the construction period, the Group has already expanded production capacities at its recently established Canadian subsidiary, HSP Canada. This strategic move creates additional opportunities for Trench's customers in Canada and ensures the necessary flexibility to serve the entire North American market. Overall, these initiatives address the rapidly growing demand in North America and mark another important step in Trench Group's global growth strategy. Dr. Bahadir Basdere, CEO of Trench Group, states:"The significant expansion of our capacities in North America, particularly the construction of the new plant in the Charlotte area, represents a major milestone for HSP US and Trench Group. It highlights our ongoing efforts to expand global capacities. Through these investments, we are not only strengthening our presence in the North American market but also laying the foundation for sustainable growth and the further development of the energy infrastructure in the region. In doing so, we contribute to the stability and national security of the countries in North America.' Strategic Expansion in a Dynamic Market The United States is considered one of the fastest-growing markets for bushings. With the new facility, Trench will make a significant contribution to meeting the increasing demand for electricity in the U.S. - especially as the continued boom in artificial intelligence applications leads to an enormous demand from large-scale data centers. At full development, the new facility will cover a total area of approximately 20,000 m² and will offer expansion potential for a possible HVDC (High Voltage Direct Current) production line. The plant will manufacture dry-type bushings (RIS/RIP) with voltages exceeding 800 kV for the North American market. It will feature full vertical integration and will house one of the most modern and high-performance high-voltage test laboratories in the region. Optimized Supply Chain and Customer Proximity With the new production facility, delivery times can be significantly reduced and proximity to key customers strengthened. Charlotte was selected due to its strong access to a highly qualified workforce and its strategic location in the southeastern United States, where many renowned transformer manufacturers are based. The investment not only enhances Trench Group's competitiveness in North America but also creates new jobs and fosters knowledge transfer. About Trench Group Trench Group is a global leader in high-voltage power transmission components and systems. Headquartered in Berlin, with over 100 years of experience, the company leads the portfolio of high-voltage power transmission components and systems. With product groups including bushings, coils, and instrument transformers, the company is a system-critical player in the energy transition and sustainable energy future. These intelligent and technologically advanced solutions are used for measurement, protection, and connection within the power grid. Trench Group operates globally with more than 2,800 employees across nine factory locations and four regional sales hubs. For more information,
Zawya
08-05-2025
- Business
- Zawya
Aamal signs over QAR1bln contract with Kahramaa awarded last year to Elsewedy Cables
Doha, Qatar – Aamal Company Q.P.S.C., one of the region's leading diversified companies, announced today that Elsewedy Cables Qatar – a subsidiary of Senyar Industries Qatar Holding W.L.L., one of Qatar's leading industrial groups in which Aamal holds a 50% ownership stake – has officially signed a contract with Qatar General Electricity & Water Corporation ("Kahramaa") valued at over QAR 1 billion. Under this contract, Elsewedy Cables Qatar will begin preparations to receive supply and project orders as part of the expansion of Kahramaa's power transmission system in Qatar. This includes the supply and installation of 132 kV power cables, which will be manufactured by Doha Cables, a company created as a partnership between Aamal and El Sewedy Cables. On behalf of Aamal Company, the agreement was signed by H.E. Sheikh Faisal Bin Qassim Al Thani, Chairman of Aamal Company. The signing ceremony was attended by several company representatives, including H.E. Sheikh Mohammed Bin Faisal Al Thani, Vice Chairman and Managing Director; Mr. Rashid bin Ali Al Mansoori, CEO; Mr. Ahmed Sadek El Sewedy, CEO of Elsewedy Electric; and Mr. Ahmed Fathi El Sewedy, Deputy CEO of Senyar Industries Qatar Holding. On this occasion, H.E. Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal Company Q.P.S.C., commented: 'We are proud to officially sign this contract with Kahramaa and greatly appreciate the confidence the Corporation has placed in our company. We take pride in the high quality of Elsewedy Cables' products, which will play a vital role in efficiently meeting the needs of this strategic project. We remain committed to providing the best solutions to support the development of Qatar's power and infrastructure sectors.' Mr. Ahmed Fathy Elsewedy, Deputy CEO of Senyar Industries Qatar Holding, commented: 'The signing of this contract marks a new phase in our fruitful partnership with Kahramaa. We are confident that the quality of Elsewedy Cables' products and the expertise of our team will ensure the successful and timely execution of this project to the highest standards. We are committed to supporting Qatar National Vision 2030 by delivering reliable solutions that align with the Country's ambitions and contribute to building advanced infrastructure.' About Aamal Company Q.P.S.C.: Aamal is one of the Gulf region's most diversified conglomerates and has been listed on the Qatar Stock Exchange since December 2007. As at 4 May 2025, the Company had a market capitalisation of QAR 5.2 bn (US$ 1.4 bn). Aamal's operations are widely diversified and comprise 32 active business units (subsidiaries and joint ventures) with market leading positions in the key industrial, retail, property, managed services, and medical equipment and pharmaceutical sectors, thereby offering investors a high quality and balanced exposure to Qatar's wider economic growth and development. About Senyar Industries Qatar Holding: Senyar Industries Qatar Holding is one of the leading industrial groups in Qatar. It was established in 2007 as a joint venture between Aamal Company Q.P.S.C. and Elsewedy Electric, a regional leader in the manufacture of integrated cables and electrical products. Senyar aims to provide a fully integrated cable manufacturing and project delivery ecosystem, the first of its kind in Qatar. Senyar owns four subsidiaries: Doha Cables, Senyar Drums Factory, Senyar Copper Factory, and Elsewedy Cables Qatar. Aamal holds a 50% stake in Senyar Industries Qatar Holding. About Elsewedy Cables Qatar: Aamal holds a 38.3% stake in Elsewedy Cables Qatar. Established in 2006, Elsewedy Cables Qatar specializes in the distribution of electromechanical equipment, Doha Cables products, and externally manufactured cables, in addition to providing customized solutions for assigned projects.
