12/7/2023 0 Comments Abb power grids division![]() ![]() Hitachi ABB Power Grids places sustainability at the heart of its purpose: powering good for a sustainable energy future. An equitable and sustainable energy transition is at the center of this global challenge, where electricity will be the backbone of the entire energy system. By this time 'the energy sector will be dominated by renewables' and 'electricity will account for almost 50 percent of the total global energy consumption' - up from about 20 percent today 2. According to the IEA's 'Net Zero by 2050' report (2), 'the path to net zero emissions is narrow' and staying on it requires increased investment in infrastructure, and specifically, an 'immediate and massive deployment of all available clean and efficient energy technologies.' By 2030, the world economy is expected to be some 40 percent larger but consuming seven percent less energy to be on track for net zero in 2050. 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. 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. has an 80.1 percent stake in the joint venture and ABB Ltd. The decision to change name has board and shareholder consent and coincides with the business' first-year anniversary since it started operations on 1 July, 2020. Zurich,1 July, 2021 - Hitachi ABB Power Grids today announced that it will be evolving to become Hitachi Energy from October 2021. The company's shares have reportedly lost about 12% since the start of the year.Hitachi ABB Power Grids is evolving to become Hitachi EnergyĪnd broadens commitment to a sustainable energy futureĬoinciding with its first-year anniversary, the global technology and market leaderĪnnounces that it will be changing its name and corporate brand from October 2021 La rge buyout and infrastructure funds and Asian companies could be interested in the power grid division, though companies in Asia may face regulatory hurdles, according to the report.ĪBB's shares closed 1.7% higher on Aug. Spiesshofer wanted to increase the division's margin to a range of 10% to 14%, but the margins still did not reach that level last quarter.ĪBB has not started a formal sale process yet and could also consider pursuing a spinoff or even retaining the asset instead, the p eople told Bloomberg. The Swiss company has been under pressure from activist investor and its second-largest shareholder Cevian Capital AB to separate its power grids division.ĪBB CEO Ulrich Spiesshofer decided to keep the division in October 2016 after a strategic review, opting to buy back shares and selling smaller assets. The unit's implied valuation surged to about $10.2 billion following increased productivity and margins, representing about one-fifth the size of ABB's overall market capitalization, according to Bloomberg's estimates. is weighing divesting its power grid unit amid an increase in the latter's valuation, Bloomberg News reported, citing people with knowledge of the matter.
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