Siemens bags Rs 570 cr order from Power Grid Corp
The order includes designing, engineering and commissioning of STATCOMs at four substation locations of PGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha
New Delhi: Siemens has bagged Rs 570 crore order from Power Grid Corp (PGCIL) to supply one of the worlds largest Static Synchronous Compensator (STATCOM) solutions.
The order includes designing, engineering and commissioning of STATCOMs at four substation locations of PGCIL: Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha.
The company said in a press release that its cutting-edge technology will result in the installation of one of the worlds largest STATCOM projects at 400 kV level with a dynamic swing range of 2000MVAr and 1250MVAr mechanically switched components.
The STATCOMs are being manufactured at Siemens plant at Goa. With fast response time of STATCOM controls, power consumers will be benefited in the form of constant grid voltage and frequency leading to availability of uninterrupted quality power.
"Siemens has once again demonstrated its indigenous manufacturing and technology capabilities to meet the growing demands of Indian power sector," Siemens Energy Management Division Executive Vice President and Head Harald Griem said in the statement.
On 12 May, 2017, India recorded its lowest-ever solar tariff of Rs 2.44/unit of electricity. That is a 73% fall since 2010, and compares favourably with India’s cheapest power source: coal, electricity from which now ranges between Rs 3/unit and Rs 5/unit.
The shares of the company were trading at Rs 26.70, up 6.16 percent in the afternoon trade on BSE.