) yesterday received a contract from Power Grid Corporation of
India to construct a 400 kilovolt (kV) gas-insulated switchgear
substation to the boost transmission capacity in the southern
region. The new substation is expected to increase inter-regional
transfer capacity between the western and southern regions of the
country. This order is booked in the first quarter and is valued
at $18 million. ABB expects to complete the construction by
Per the contract, ABB is required to provide design,
engineering, supply, installation and commissioning services. In
order to execute this project, the company's supply will include
the 400 kV gas insulated switchgear, shunt reactors, control and
relay panels based on the IEC 61850 platform. ABB's most modern
generation gas-insulated switchgear has a compact and modular
design that is small in size, helps in reducing carbon footprint,
and improves eco-efficiency.
Power Grid Corporation of India is the country's largest
electric power transmission utility with 178 substations and
1,05,343 ckm transmission lines. The company operates
approximately 90% of inter-state networks and generates about 50%
of the total power required by India.
Prior to the present contract, ABB has earlier supplied
numerous gas-insulated substations to Power Grid Corporation and
has recently commissioned the 765/400 kV substation at Sholapur,
which connects the Raichur-Sholapur transmission line, linking
the southern grid to the national transmission grid. This project
at Sholapur was completed before schedule. This apart, recently
in Mar 2014, ABB Ltd. also received an order from India's central
power generation utility company, NTPC, for the supply of
ultrahigh voltage transformers and shunt reactors in order to
ensure reliable and efficient power generation and grid
ABB is a leading provider of integrated power and automation
solutions for conventional and renewable power generation plants
and water applications. The company's extensive offerings include
turnkey electrical, automation, instrumentation and control
systems supported by a comprehensive service portfolio to
optimize performance, reliability and efficiency while minimizing
the environmental impact.
ABB currently holds a Zacks Rank #4 (Sell). However, other
stocks which are worth considering at the moment are
Quanta Services, Inc.
). All three carry a Zacks Rank #2 (Buy).
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