Hitachi Energy’s $4.5 B for the energy transition
The investments will help the company to meet customers’ commitments and market demand.
Image source: Hitachi Energy
Switzerland, Zürich: Hitachi Energy will invest an additional $4.5 billion in manufacturing, engineering, digital, R&D and partnerships by 2027, doubling investments in the last three years. This complements the $1.5 billion investment from April aimed at ramping up global transformer production.
The investments will help the company to meet customers’ commitments and market demand, increasing its global R&D, engineering and manufacturing capacity of transformers, high-voltage direct current (HVDC) and high-voltage products. They will support the deployment of power electronics-based solutions, grid automation and software solutions, and services in line with the Hitachi Energy 2030 Plan. Investments will also go into partnerships, supply chain, digitalization, and automation.
Hitachi Energy has announced the investment of $330 million to expand and modernize its factory in Ludvika and a campus in Vasteras, Sweden, across all product portfolios. The factory manufactures transformers, high-voltage products and HVDC systems, and will expand by more than 30000 m2. This will enable new manufacturing capacity of large transformers to meet the deliveries of HVDC projects. The new campus will accommodate 1800 employees, an R&D center and a production facility for grid automation.
“Electricity will be the backbone of the entire energy system and the change is happening faster than many thought possible. New business models, harmonization of designs, along with partnerships are key drivers for the increase in the pace of change. The world is in a race to transform energy systems,” commented Claudio Facchin, CEO, Hitachi Energy.
Recently, HVDC projects were announced, needed to meet the growing market demand. Underpinned by new scalable business models pioneered by Hitachi Energy, framework agreements were signed with RTE in France, RWE in Germany, Marinus Link in Australia, in addition to a service contract with Pattern Energy in the US. Hitachi Energy also announced the Sa.Co.I.3 interconnection between Italy and France, a multi-terminal solution.
Source: Hitachi Energy