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ABB Connects Mega Power Plant to a Solar Grid in India
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Premium power and automation technology provider ABB Ltd. recently announced that it has commissioned 5 substations to integrate a 648-megawatt (MW) solar project at Kamuthi, a small town in south India, with the national transmission grid.
ABB, which has garnered solid reputation in offering timely end-to-end power and automation system integration, was awarded this project by an independent power producer (IPP) Adani Group in 2015. This solar photovoltaic project comprises five plants, making it the largest of its kind. On completion, the project will account for 10% of the solar energy produced in India. Though only 360 MW power from this solar project is connected to the grid but at full capacity, the plants can generate 7 Gigawatts (“GW”) approximately.
ABB is in charge of the designing, installation and commissioning of electrification and automation systems of the solar plant. The company offered two 230 kilovolt (kV) and three 110 kV outdoor switchyards to connect to the local transmission grid which is expected to bring clean power supply to more than 150,000 households.
Meanwhile, India with its ambitious vision of achieving 100 GW of solar power by 2022 to broaden energy mix and minimize energy demand represents a thriving market for ABB. The Indian government plans to implement 25 ultra-mega solar power projects with capacities ranging from 500 MV to 1,000 MW over a period of five years. These renewable energy projects are perfectly aligned with ABB’s Next Level strategy and can unlock multiple opportunities going ahead.
We also believe that ABB stands to benefit from investments made in the upgrade of power infrastructure and its focus on reduction of energy intensity across all end-markets. The company is a major player in renewable energy like wind and solar sources and is benefiting significantly from the increased investments in emerging countries. According to the research report by the International Energy Agency, the extent of global electricity from renewable energy is projected to be higher than the present combined electricity demand in China, India and Brazil by 2020. We believe ABB is well equipped to capitalize on this trend.
ABB currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include ESCO Technologies Inc. (ESE - Free Report) , Powell Industries, Inc. (POWL - Free Report) and Eaton Corporation plc (ETN - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
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ABB Connects Mega Power Plant to a Solar Grid in India
Premium power and automation technology provider ABB Ltd. recently announced that it has commissioned 5 substations to integrate a 648-megawatt (MW) solar project at Kamuthi, a small town in south India, with the national transmission grid.
ABB, which has garnered solid reputation in offering timely end-to-end power and automation system integration, was awarded this project by an independent power producer (IPP) Adani Group in 2015. This solar photovoltaic project comprises five plants, making it the largest of its kind. On completion, the project will account for 10% of the solar energy produced in India. Though only 360 MW power from this solar project is connected to the grid but at full capacity, the plants can generate 7 Gigawatts (“GW”) approximately.
ABB is in charge of the designing, installation and commissioning of electrification and automation systems of the solar plant. The company offered two 230 kilovolt (kV) and three 110 kV outdoor switchyards to connect to the local transmission grid which is expected to bring clean power supply to more than 150,000 households.
Meanwhile, India with its ambitious vision of achieving 100 GW of solar power by 2022 to broaden energy mix and minimize energy demand represents a thriving market for ABB. The Indian government plans to implement 25 ultra-mega solar power projects with capacities ranging from 500 MV to 1,000 MW over a period of five years. These renewable energy projects are perfectly aligned with ABB’s Next Level strategy and can unlock multiple opportunities going ahead.
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We also believe that ABB stands to benefit from investments made in the upgrade of power infrastructure and its focus on reduction of energy intensity across all end-markets. The company is a major player in renewable energy like wind and solar sources and is benefiting significantly from the increased investments in emerging countries. According to the research report by the International Energy Agency, the extent of global electricity from renewable energy is projected to be higher than the present combined electricity demand in China, India and Brazil by 2020. We believe ABB is well equipped to capitalize on this trend.
ABB currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include ESCO Technologies Inc. (ESE - Free Report) , Powell Industries, Inc. (POWL - Free Report) and Eaton Corporation plc (ETN - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>