-

Energize Hitachi ABB Power Grids commences operations
- Advertisment -

Hitachi ABB Power Grids commences operations

- Advertisment -

Complementary portfolios and technology strengths to ensure continuity, enhance customer value and bring growth opportunities. In accordance with the agreement signed on 17 December 2018, Hitachi and ABB announced the completion of all required procedures as planned and the formation of Hitachi ABB Power Grids on 1 July 2020. Hitachi has an 80,1% stake in this new joint venture entity, which has a business volume of approximately US$10-billion, and ABB holds the balance.

Toshikazu Nishino

Toshikazu Nishino, the executive vice president of Hitachi, is the cairman of the new entity and Claudio Facchin the CEO. The new entity is headquartered in Zurich, Switzerland. The current management team will ensure business continuity.

“Hitachi’s leading digital technologies merged with world-class power grid solutions will help us to play an active role in the global transformation and decarbonisation of energy systems for a sustainable energy future. Intelligent solutions for a more dynamic grid will also contribute to the UN’s Sustainable Development Goal 7 of ‘affordable, reliable and clean energy’,” said Nishino.

The joint venture brings together two highly respected companies to create a new global power leader. The alliance with Hitachi will facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centres, besides providing financial muscle to support ambitious projects and enabling access to Japan, the third-largest economy in the world.

“Synergies and access to new and growing markets provided by Hitachi will help take Power Grids to the next stage of its development, further strengthening its leading position,” said Timo Ihamuotila, CFO of ABB and Director of the Board of Hitachi ABB Power Grids. “Hitachi brings long-term commitment to the new entity and strengthens the existing business partnership between our companies,” he added.

“Combining our respective technology strengths will bring us new market opportunities and enable us to deliver greater customer value,” said Facchin. “We remain committed to powering good for a sustainable energy future, with pioneering and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid.”

Contact Rebecca Bleasdale, Hitachi Powergrids, rebecca.bleasdale@hitachi-powergrids.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Independent transmission system “essential” to end load shedding

by Roger Lilley, Now Media  -   To overcome the scourge of load shedding, two components are urgently needed: more generating capacity and an improved and...

Drivers improving the business case for solar power

Information from IM Power  -   Covid-19 has presented businesses with the opportunity to re-evaluate both their operational models and costs. Proactive organisations found themselves navigating...

Temperature monitor and controller saves municipality money

Instrotech recently supplied its DPM4003 and DPM3001M (low- and high-alarm relay output) temperature indicators to Levivi22 Engineering and Projects, the company contracted by Tshwane...

Undertaking wall thickness testing at Tutuka

During the lockdown in June, rope-access specialist Skyriders undertook an inspection of pulverised fuel (PF) piping at Tutuka power station near Standerton in Mpumalanga...

Rentable solar power now available

Aggreko, a leading provider of mobile, modular power, temperature control and energy services, today announces the immediate availability of its solar power rental offer....

EU solar power association signs cooperation agreement with SAPVIA

SolarPower Europe and the South African Photovoltaic Industry Association (SAPVIA) have signed a Memorandum of Understanding (MoU) to strengthen cooperation and explore new business...

First BW4 wind farm celebrates commencement of commercial operations

South Africa’s first bid window four (BW4) wind farm, part of government’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), has announced its Commercial...

Maintaining backup battery systems for maximum usage and reliability

Information from Fluke  -   Most backup power systems use an uninterruptable power supply (UPS) and a string of batteries. The UPS backs up the digital...

Renewable energy company offers bursaries for tertiary education

Globeleq, a leading independent power producer operating in Africa, is offering bursaries for tertiary education. The Globeleq Scholarship Fund aims to develop skills needed...

SA’s Risk Mitigation tender and what it means for energy storage, renewables and gas

by Andy Colthorpe, Energy-Storage news  -   South Africa’s Ministry of Mineral Resources and Energy is conducting a fairly unique procurement programme for 2 GW of...

Eskom acknowledges load shedding’s damage to the economy, promises improvement

Eskom's CEO, Andre de Ruyter, says the power utility understands that it has a critical role to play in enabling South Africa's economic recovery...

MEA Energy Week conference draws world-class lineup

Information from Siemens  -  Siemens Energy and partners are holding a major Middle East and Africa-focused virtual conference, entitled ‘Shaping the Energy of Tomorrow’, from...

How to classify outdoor circuit breakers

Information from Noja Power  -   Electrical engineering switchgear classification is a challenging topic. With the varied terminology for electrical equipment around the world, clarity on...

What’s on the energy storage market besides Li-ion batteries?

Information from IDTechEx  -   While Li-ion batteries are dominating the stationary energy storage sector, a growing number of companies are developing different technologies to be...

Electrical junction box offers ten entries

A rectangular-shaped junction box, which is both Ex e and IP68 certified, is now available from Pratley. Known as the Enviro Rectangular Junction Box,...
- Advertisement -