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23 September 2004 - VA Tech Hydro, a company of the listed VA Tech and a leading international supplier of equipment and services for hydropower plants, has obtained a €40 m ($49.0m) order for the large-scale "Teesta Low Dam Stage" power plant in India, thereby maintaining the dynamic progress of the VA Tech Group in growth markets outside Europe. The customer is the state-owned, Indian National Grid, which has thus allocated VA Tech Hydro its first order of these dimensions.
The scope of the order includes the design, manufacture, supply, installation and commissioning of the complete electro-mechanical equipment comprising 4 units of 33 MW Kaplan turbines, alternators, digital governors and excitation systems, state of the art Control, monitoring & protection equipment, step-up transformers, 220 kV GIS and other auxiliaries. The project will require a contractual period of around three and a half years.
VA Tech Hydro has two branches in India, VA Tech Hydro India and VA Tech Escher Wyss Flovel, which in 2003 achieved sales of EUR 26.6 m with a work force of 396. These VA TECH subsidiaries lead the Indian small-scale hydro power plant sector with a market share in excess of 35%. Among the most important contracts of the past five years are 30 modernisation orders, as well as a total of 47 small-scale hydro power plant projects. Moreover, with the major order for Teesta, the companies have now gained a foothold as suppliers for large-scale power plant projects.
The award of this contract establishes a major milestone in the history of the two Indian subsidiaries - VA Tech Hydro India and VA TECH Escher Wyss Flovel. The products and services VA TECH can offer today in India are derived from more than 160 years of experience of the VA Tech Hydro group. This contract will further establish VA Tech Hydro's long term commitment to provide the Indian hydropower sector with the very best technology at Indian price levels.
India is an important, strategic market, which offers great future potential to VA Tech Hydro as a power generation company. In this connection, the intention of the Indian government to double national hydro power capacity from a current level of 25,000 MW to 50,000 MW in 2017, constitutes an important driving factor. This trend towards the increased use of renewable energy sources, as well as the deregulation of the public energy supply, will enable the VA TECH subsidiaries to further consolidate their position in the Indian market.
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