Stocks

ABB Power energises stage one of Raigarh-Pugalur link; shares gain over 2%

Internet Desk | Updated on September 25, 2020 Published on September 25, 2020

ABB Power Products and Systems India along with consortium partner Bharat Heavy Electricals Limited has successfully energised the first stage of the 6,000 megawatts (MW) +/-800 kilovolt (kV) Ultra-high Voltage Direct Current (UHVDC) transmission link connecting Raigarh in Central India to Pugalur in the southern state of Tamil Nadu.

When completed, the approximately 1,800-kilometre-long two-way transmission line will have the capacity to meet the electricity needs of over 80 million people in India. This link will assist India on the journey towards increasing amounts of renewable power, by bringing large amounts of renewable energy to the high consumption centres.

 

When wind strength is low, it will support electricity demand in the South, and when it is in excess, transmit clean energy to the North. That is also one of the key initiatives of the Government of India to increase renewable energy capacity to 450 gigawatts in the nation's electricity mix and is aligned with the UN Sustainable Development Goal of affordable and clean energy.

The company's shares have gained as much as Rs 948.05 before settling flat at Rs 932.

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Published on September 25, 2020
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