With new power transmission projects thin on the ground, leading transmission companies are looking elsewhere, such as Latin America, to try and bolster their order books.
Slow growth in power demand has reduced the immediate need for new transmission capacity, prompting some firms to turn to new opportunities in sectors such as metro rail and urban infrastructure as well as foreign markets.
“Order intake this year has been lukewarm because of Covid-19, flat growth in power demand,” Vimal Kejriwal, managing director (MD) and CEO, KEC International Ltd, one of the largest engineering companies in the transmission business, told Mint. “The changing norms in performance guarantees and local sourcing tenders have caused disturbances in the tendering processes. For instance, most power substations now are built with gas-insulated switch gears which are more efficient.
