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© andreypopov dreamstime.com Electronics Production | December 16, 2014

ABB and Hitachi to form JV for HVDC in Japan

ABB and Hitachi will form a joint venture for high voltage direct current (HVDC) system solutions in Japan.

The new entity, to be based in Tokyo, will be responsible for the design, engineering, supply and after-sales services related to the DC system of HVDC projects bringing ABB's latest technologies to the Japanese market where Hitachi will be the prime contractor. Hitachi and ABB will take equity interests of 51 percent and 49 percent respectively. This is the first step of a strategic partnership between the two companies. Hitachi and ABB will explore further strengthening of the relationship and address opportunities to widen the scope for future collaboration. The joint venture is expected to commence operations in the coming months, subject to the necessary approvals and statutory procedures. "Since the first development in the 1970s, Hitachi has participated in every HVDC project in Japan and has continued to underpin the stabilization of the electricity grid. I am confident that the establishment of a new company combining the strengths of Hitachi and ABB will provide a framework for the timely provision of the new technologies required by the Japanese HVDC market. By enhancing and expanding the HVDC business through its partnership with ABB, which has a strong performance record in the global market, Hitachi will continue to contribute to the stabilization of Japan's electric power grid." said Hiroaki Nakanishi, Chairman & CEO of Hitachi, Ltd. "ABB pioneered HVDC 60 years ago and has continually pushed the boundaries of this technology," said Ulrich Spiesshofer, CEO of ABB. "Our presence across half the world's installed base and our capability to develop and manufacture all major components of the HVDC value chain inhouse have put us in a leading position in the industry. We are proud to enter into this partnership with Hitachi, with a solid reputation and extensive, 100 year experience in the Japanese market. Together we can build on our complementary strengths to play our part in the evolution of Japan's power infrastructure." The new joint venture will combine Hitachi's sales network, project management expertise, quality assurance processes and delivery performance, with ABB's HVDC technologies.
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