A lot of pure transmission and distribution (T&D) players are increasingly finding it difficult to cope up with the drop and possible slowdown in transmission capex, particularly in the conventional energy sector.
Capex by Power Grid Corporation of India (PGCIL) has slowed and is expected to slow further due to lack of visibility in the power generation space. A lot of focus is shifting towards development of state transmission under state electricity boards (SEBs), the tendering of which is highly competitive, slow and a risk to cash flows.
Falling apart GE T&D India is one such player with a market share of close to 60 percent in the high-grade equipment and high-voltage direct current (HVDC) category. Orders in the T&D market are drying up considering the slow capex by PGCIL. Read More
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