Siemens consortium wins order worth Rs 1380 crore from Adani Power

SiemensSiemens, along with its parent company Siemens AG, Germany (SAG), has secured an order worth Rs 1380 crore from Adani Power, a member of 4.6 Billion US Dollar Adani Group, to transfer power over a distance of around 1,000 km from latter's power plant to Mohindergarh in Haryana.

Under the arrangement, Siemens Ltd along with its parent company Siemens AG will install a bipolar 500-kilovolt high voltage direct current (HVDC) transmission system of 2,500 MW capacity.

According to a company official, the contract value for the Indian subsidiary will be Rs 720 crore, while the German company's shares will get 660 crore.

Adani Power claims that, dedicated HVDC power transmission of Siemens, is more cost- effective and energy-efficient compared to the conventional AC power transmission lines. The installation of HVDC transmission system is scheduled to complete by July 2011.

It should be noted that Adani Power is presently setting up a 4,620 MW thermal power plant at Mundra. The first unit of the facility is expected to start commencing from May-June this year.

The scrip of the Siemens closed yesterday at Rs 308 on BSE, up 5 per cent compared to its previous close of Rs 294.