Siemens has bagged a crucial turnkey order (design, engineering, commissioning and installation) from Power Grid Corporation of India (PGCIL) worth around Rs 411 crore. The order is for Static Var Compensators (SVCs) for three of PGCIL’s substations -- Ludhiana in Punjab, Kankroli in Rajasthan and New Wangpoh in Jammu & Kashmir.
An SVC is a high-voltage system that dynamically controls the network voltage and keeps the network voltage constant. The order is for one of a series of SVC projects planned by PGCIL to improve grid stability across India.
Siemens is the flagship listed company of Siemens AG in India and is a major player in the electronics and electrical engineering business. Germany’s Siemens AG holds a 75 per cent stake in the company.