Only 3 Companies in the World Have This Tech | India's HVDC Boom
India's best sun and wind are in Kutch, western Rajasthan and Ladakh, far from the cities that use the power. How do you move that electricity across the country, and which companies make the equipment that carries it?In this video, Ishmohit covers a part of the power-sector value chain we haven't covered on SOIC yet: HVDC, or high-voltage direct current. After thermal power, battery energy storage and renewables, this is the link that has to carry clean power over long distances.
We start with why India needs HVDC and how DC differs from AC, explained with water, then look at the market and the projects being built. Next comes the value chain, from the project owners and terminal OEMs to scarce components, inputs and the line itself, with the margins at each tier and the barriers that keep new players out. Then we go deep into five listed players and close with a broad valuation and the key risks.
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LEARN AND RESEARCH WITH SOIC
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SOIC Membership (StockScans included), code SOICBONUS10
https://learn.soic.in/learn/SOIC-Course
StockScans, code SOICTRIBE10
https://www.stockscans.in/home
SOIC Research
https://www.soicresearch.in/home
The full HVDC chain on SOIC Atlas
https://atlas.soic.in/chains/hvdc/#chain
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QUESTIONS WE WORK THROUGH
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• Why does India need HVDC to carry renewable power over long distances?
• How is DC different from AC, and when does HVDC win?
• How big is India's HVDC market, and which projects are coming up?
• Who makes money across the value chain, and what are the margins at each tier?
• What keeps new players out of this industry?
• How do Hitachi Energy India, Siemens Energy India, GE Vernova T&D India, Quality Power and KSH International compare, and how are they valued?
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CHAPTERS
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0:00 Intro
2:26 Part 1: Why India needs HVDC
3:47 AC vs DC, explained with water
7:12 How an HVDC link carries power
8:06 Part 2: India's HVDC market
8:51 Past and upcoming HVDC projects
9:35 Market size by FY32
9:55 Why HVDC wins over long distances
10:50 Part 3: The HVDC value chain
12:21 Tier 0 to tier 3 and their margins
16:20 LCC vs VSC technology
18:20 SOIC membership
19:16 Part 4: Barriers to entry
22:45 Key players and their numbers
24:14 Order books
24:35 Part 4 deep dive: Hitachi Energy India
31:52 Siemens Energy India
35:33 GE Vernova T&D India
41:24 Quality Power
48:00 KSH International
52:44 Part 5: A broad valuation
57:19 Key risks
58:53 Conclusion
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VIDEOS MENTIONED
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VIDEOS MENTIONED
Thermal power value chain: https://www.youtube.com/watch?v=Funuk-of7t8
Battery storage value chain: https://www.youtube.com/watch?v=BQAPVmZC72o
Renewables value chain: https://www.youtube.com/watch?v=s6DpahFK51M
Stocks for AI-led power demand: https://www.youtube.com/watch?v=nVAaKxq8O3I
Hidden beneficiary of the AI DC capex boom: https://www.youtube.com/watch?v=4hdllKJgpV4
KSH International: https://www.youtube.com/watch?v=l2HWJTdPfCw&t=3099s
TVGP framework: https://www.youtube.com/watch?v=U_6gWUDsyPU
Finding ideas with StockScans: https://www.youtube.com/watch?v=OZM4QSzBT9A
Which part of the HVDC chain would you research first: the terminal OEMs, the scarce components or the line itself? Share your reasoning in the comments.
At SOIC, we work through the industry, business, numbers and risks so you can build and question your own investment thesis. Subscribe for more business analyses and investing frameworks you can apply to your research.
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DISCLAIMER
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This video is for educational and informational purposes only. Nothing in it constitutes investment advice, research or a recommendation to buy, sell or hold any security. Any stocks, sectors or themes mentioned are used only to illustrate investing frameworks and market history. Views expressed are personal, current as of the recording date and may change without notice. Investments in securities markets are subject to market risks. Please read all related documents carefully and consult a SEBI-registered investment adviser before making investment decisions. SOIC Intelligent Research LLP is registered with SEBI under the SEBI Research Analysts Regulations, 2014, with registration number INH000012582.
#SOIC #HVDC #PowerSector Receive SMS online on sms24.me
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