Thursday, November 18, 2010

HCL lends first-of-a-kind Smart Grid contract of $100 million in India

HCL, The 5th largest IT company in India has earned the distinction of being the first company to lend multi-million dollar Smart Grid project in India. As reported by Business Standard, the company will establish intelligent electricity network by integrating generators and consumers, which will allow to efficiently manage demand and supply hence, increasing the robustness of the power system.

Anant Gupta, president of  HCL Technologies Infrastructure Services Division, quoted,“HCL has signed the world’s first-of-a-kind smart grid contract with an Indian power distribution enterprise. Smart grids can be used in the emerging markets to reduce inefficiencies and there are 6-10 players in the industry which are offering such solutions. The company under its Ecosystems and Business Incubation initiative is incubating 5 technology ideas, which include Smart Grids, Cloud Computing, E-Governance, Mobility, and Biometrics.  As one of the empaneled IT consultants for Government of India's R-APDRP program, HCL has already won 5 R-APDRP projects in different states. It has also set up Smart Grid labs in India and Raleigh, North Carolina to tap this emerging opportunity, which the company plans to initially capture 5% market share. 

The Smart Grid market is still at the nascent stage and with its ever growing potential, HCL with its present less than 100 staff in this segment is aiming to become turnkey integrators.

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