Abb power grids11/14/2023 ![]() ![]() Today, combating climate change is of paramount importance and one of the most urgent challenges of our times. The business has played a leading role enabling a stronger, smarter and greener global energy system. These range from pioneering innovations such as long distance commercial HVDC(1) technology, that enables countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometers while reducing carbon footprint, to providing microgrids and energy storage solutions that combined with state-of-the-art intelligent control systems, ensure reliable distributed power availability. Photo: Hitachi’s Rail Vehicle Manufacturing Facility, Newton Aycliffe /Copyright Thomas Nugent and licensed for reuse under this Creative Commons Licence.Headquartered in Zurich, Switzerland, the global technology and market leader brings a rich heritage of pioneering breakthroughs, which have helped to increase access to safe, secure, and reliable electricity for more than one century. Hitachi will consider to acquire the remaining 19.9% stake of Hitachi ABB Power Grids – making it a wholly owned subsidiary –after 2023. ![]() The purchase price of Hitachi ABB Power Grids’ 80.1% stake is approx. Underpinned by a customer-focused mindset and a world-class R&D organization of around 2,000 experts, the company will continue to differentiate itself through customer service, domain expertise, technology and innovation, an unparalleled global footprint and an installed base. The new joint venture and its 36,000 employees remain committed to be the partner of choice for stronger, smarter and greener power grids. The demand for electricity continues to outpace the rising need for energy the challenge is to meet this growing demand while minimizing environmental impact fora sustainable energy future. Markets related to digital utilities, such as predictive maintenance, distributed power supply and assetoptimization are expected to grow strongly. Furthermore, the growth of electric vehicles and expansion of the world’sdata centers has ramped up electricity demand. The rapid rise indistributed power generationand changes in consumption patterns (for example, the emergence of prosumers) are parts of this changing energy landscape. Many more interconnections will be required to maximize the penetration of renewables in the energy market. Intermittent by nature, renewable energy sources have resulted in increased complexity while many countries have made great strides in the adoption of renewables, they now need to manage a more dynamic system, requiring increased flexibility and resilience to achieve a sustainable outcome. The share of renewables in the energy mix is increasing significantly and will play a key role in achieving the ambitious decarbonization targets set by countries aroundthe world. ![]() The need for innovative energy solutionsis being driven by short-and long-term global trends. The world’s energy markets aregoing through an unprecedented transformation needed to realize the energy transition. It will unlock new business models and contributesocial, environmental and economic valuesfor a sustainable society. With roots in Hitachi and ABB, the new business will build on more than one century of expertise in pioneering engineering technologies, enabling customers to increase efficiency and maintaining resilience. The new company ,Hitachi ABB Power Grids Ltd (“Hitachi ABB Power Grids”) was launched and began operation on Wednesday.Īccording to Hitachi, under the leadership of Claudio Facchinas, CEO, and Toshikazu Nishino, Executive Vice President of Hitachi, as Chairman, Hitachi ABB Power Grids will expand Hitachi’s energy solutions business globally as a core part of the company’s Social Innovation Business.īy combining world-class power grids business with Hitachi’s advanced digital technologies such as Lumada, Hitachi and Hitachi ABB Power Grids will provide innovative energy solutions spanning the Energy (utilities), Mobility, Smart Life (cities), Industry,and ITsectors. Hitachi has announced that it has completed the procedures for its 80.1% investment in the company operating power grids business that had been carved out from ABB Ltd, pursuant to the acquisition agreement signed on December 17, 2018. ![]()
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