#power grids

Spain, Barcelona: Spanish utility Endesa invested $442 M (€418 M) into electrification, digital grids and e-mobility.

Large-scale fossil-fueled power plants with their synchronous generators provide stability in the power grid. With the progressive energy transition, though, these will be successively switched off.

China, Shaanxi, Xi’an: China XD Group Co. plans to combine electricity transmission and distribution equipment makers to create a $17 B (110 B yuan) behemoth.

Ukraine: The European Bank for Reconstruction and Development (EBRD) will provide Ukraine with $170 M (EUR 149 M) for the modernization of power grids.

ABB is divesting its Power Grids business to Japan’s Hitachi, which will expand existing partnership between the two companies and provide Power Grids with enhanced access to markets and financing, the company said in a press release.

While Swedish media recently reported on the activist shareholder Cevian wanting to break up ABB’s Power Grids business and sell it in parts to strategic buyers, in today’s (4 October) update of strategic review, ABB leadership has revealed it will continue the transformation of Power Grids under ABB ownership.

Swiss engineering group ABB has signalled that it may retain its power grids division under a new strategy to be unveiled next month — despite calls for a break-up of its businesses from an activist investor, about which Transformers Magazine has earlier reported.