Shares of CG Power and Industrial Solutions Ltd soared 8% on 19 January after the company announced securing a supply order from a US-based firm for a data centre project. 

CG Power and Industrial Solutions won an order worth around Rs 900 crore ($99.2 million) from Tallgrass Integrated Logistics Solutions LLC in the US for a large data centre project.

The deal marks CG Power’s entry into the global data centre space, one of the fastest-growing infrastructure segments, and stands as the largest single order in the company’s history. CG Power secured the contract as a direct export order to supply power transformers, the company said in an exchange filing.

Under the agreement, the company will deliver transformers designed to meet the high standards of reliability, efficiency and uptime required by hyperscale data centres. The company expects to execute the order over a period of 12 to 20 months.

Amar Kaul, global chief executive officer and managing director, CG Power, said, “The global shift toward cloud computing, AI, and digital infrastructure is fundamentally reshaping the power demand. 

The company added, “We believe this win opens up a significant long-term opportunity pipeline in global data centre projects, aligned with our global growth and margin-accretive expansion strategy.”

At 12:21 pm, the shares of CG Power were trading 4.61% higher at Rs 587.60 on NSE. 

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