GE Vernova is investing USD 16 million in India through its listed entity, GE Vernova T&D India Limited, to expand its electrification manufacturing and engineering capabilities. The investment includes a new manufacturing line in Chennai and a new facility in Noida, focusing on advanced grid technologies like HVDC and FACTS.

GE Vernova T&D India Limited is expanding its Chennai facility with a new manufacturing line. The facility will produce:
• Line Commutated Converter (LCC) HVDC valves – used for long-distance, high-capacity power transmission.
• Voltage Source Converter (VSC) STATCOM valves – used to connect renewable energy and enhance grid stability.

A new engineering and test lab will be established in Noida. The Noida lab will focus on:
• Design and system validation of HVDC and FACTS technologies.
• Supplying control systems to ensure power grid solutions’ quality and real-world performance.
The Noida engineering and test lab is scheduled to be operational by the end of 2025, while the new manufacturing line at the Chennai facility is expected to be ready by early 2027.

This investment is part of GE Vernova’s larger “Asia for Asia” strategy, aimed at strengthening localized manufacturing to meet regional demand. It also falls within the company’s previously announced cumulative capital expenditure plan of approximately $4 billion through 2028.

GE Vernova’s involvement is anticipated to support most of India’s plans for potential HVDC projects totaling 25 GW by 2030, encompassing both domestic and cross-border initiatives. This project is also crucial for India’s goal of achieving 500 GW of non-fossil fuel electricity capacity by 2030.

Key projects include: The Green Energy Corridor (GEC) project, which aims to evacuate 13 GW of renewable energy from Ladakh via a 713-km transmission line to Haryana. Funded in part by a $100.19 million grant from the Centre, the project is being implemented by PGCIL and is expected to be completed by 2030. Last month, India and Sri Lanka signed a Memorandum of Understanding (MoU) to jointly develop a 285-kilometer HVDC power interconnection worth $1.2 billion, which includes a 50-kilometer submarine cable across the Palk Strait. Another initiative that follows PGCIL’s broader cross-border energy vision is the ₹40,000 crore undersea 2.5 GW HVDC transmission project connecting Bhuj (India) to Oman, Saudi Arabia, and the UAE, part of the One Sun One World One Grid (OSOWOG) project.

Under this “Asia for Asia” strategy, GE Vernova, in 2024, entered a strategic collaboration with LS Electric in South Korea within the HVDC sector. Together, they will pursue opportunities in both domestic and international markets, leveraging LS Electric’s production capabilities, including its HVDC facility in Busan. For GE Vernova, this partnership and this recent investment offer an entry into the growing HVDC market in the Asia-Pacific (APAC) region, where the demand for HVDC solutions is expected to reach 67 GW by 2030.

Considering other suppliers’ recent investments in India, Hitachi Energy announced a ₹2,000 crore (approximately USD 250 million) investment over the next four to five years in its Chennai HVDC & Power Quality Factory. Hitachi Energy currently commands a leading position in India’s HVDC market, holding approximately 51% of the nation’s total HVDC capacity. GE Vernova currently ranks as the second-largest player in the market. However, this strategic investment and expansion of capabilities are expected to significantly strengthen its competitive position.