Connecting Power Navigating the HVDC Transmission Market

The HVDC transmission market generated about a value of USD 11.3 billion in 2023. The industry will grow at a compound annual growth rate of 5.5% and touch USD 16.4 billion by 2030 . This has a lot to do with the growing demand for electricity at a global level, gradual shift toward renewable energy sources, initiatives of the government for grid development, and tech progressions in T&D. Of late, a major trend in the sector has been the fast progression in the VSC tech. HVDC systems based on it offers improved control, reliability, and competence, which makes them textbook for grid modernization and the incorporation of renewable energy sources. Also, grid management systems can offer instantaneous monitoring, predictive upkeep, and sophisticated problem discovery with cutting-edge VSC tech. With it, the grid's reliability and performance can also be enhanced. One substantial initiative by the Indian government regarding this is the NEP, which includes the construction of nov...