KEC International Adds To Order Book, Including 500 MW Solar Project

After it won new orders worth ₹1,313 crore across its various verticals, manufacturer of electric power transmission towers, KEC International, saw its shares surge at 7 per cent to Rs 501 on the BSE. The new orders have augmented the firm’s year to date order intake to more than Rs 13,000 crore. With such strong numbers on its side, KEC International has reported strong growth of about 20 per cent in comparison to last year.

The transmission & distribution (T&D) business of the firm has won orders for T&D projects in India, SAARC, Middle East and America. These entail a 220 kV GIS substation for a refinery project in India, 500 kV transmission line in Thailand. Besides, it has also secured an order for a 132 kV transmission line along with related substations in Nepal. It will also add a large order worth 500 megawatt (mw) solar PV project in India to augment its portfolio.

Additionally, the firm has also bagged orders in the hydrocarbon segment for infra works in India. Presently, KEC International is in the process of carrying out EPC projects in over 30 countries.

Going forward, the firm is expected to continue a strong run in its order book, thanks to a higher T&D spending by Power Grid Corporation of India (PGCIL) and State Electrical Boards (SEBs). Q4FY23 is thus looking bright for the firm.

Ambitious RE linked transmission plans towards 500 GW goal

In order to aid the 500 GW renewable energy (RE) capacity by 2030, the Power Ministry has launched a plan, “Transmission System for Integration of over 500 GW RE Capacity by 2030.” The plan sets sights on connecting large solar parks and wind power zones with the national grid. The ambitious plan will witness an investment worth Rs 2.44 trillion in transmission projects. Further, to make round-the-clock power a reality, It looks to install battery energy storage capacity of 51.5 GW by the end of the decade.

Earlier this year, it was revealed that India is on track to add 27,000 circuit kms of inter-state power transmission network by 2024. By July, almost one fourth of the project had been achieved already. Another 10,000 km worth transmission lines are in the works currently, while another 10,500 worth of circuit kilometers are set for tendering.