Hitachi Energy and Arteche form a joint venture for gas-insulated instrument transformers
Switzerland, Zurich: Hitachi Energy and Arteche have signed an agreement where Hitachi Energy will acquire a minority stake in Arteche.
Image source: Hitachi Energy
Switzerland, Zurich: Hitachi Energy and Arteche have signed an agreement where Hitachi Energy will acquire a minority stake in Arteche.
Arteche Gas Insulated Transformers S.L. is a manufacturer of gas-insulated instrument transformers and the agreement was made with the aim to establish a joint venture (JV) company. The transaction is expected to be closed in the first half of 2022, subject to necessary regulatory approvals.
Under this agreement, the new JV is expected to be located in Vitoria, Spain after the transaction is closed. Arteche will hold 51 % majority stake while Hitachi Energy will own the remaining 49 %. Following necessary regulatory approvals, the JV governance will be done within the framework of a new independent management board with both companies equally represented.
As a result of this agreement, Hitachi Energy will be able to expand its gas-insulated instrument transformer portfolio for air-insulated and gas-insulated switchgear (GIS) to address the growing GIS market and strengthen its value chain ownership.
“This agreement represents a milestone for both companies. This will help our growth in this segment and accelerate eco-efficient innovation to advance a more flexible, sustainable and secure energy system” said Markus Heimbach, Managing Director of the High Voltage Products business in Hitachi Energy.
Source: Hitachi Energy
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