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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
October 15, 2015
Tokyo, October 15, 2015 --- Hitachi, Ltd. (TSE: 6501 / "Hitachi") and ABB, the leading power and automation technology group, today announced the completion of the process to establish a joint venture company, Hitachi ABB HVDC Technologies, Ltd., for high-voltage direct current (HVDC*1) transmission in Japan. Hitachi ABB HVDC Technologies, Ltd. will commence operations in November 2015. The company will provide ABB's latest technology to HVDC projects on which Hitachi is the prime contractor, offering total services for direct current (DC) systems from design to engineering and equipment supply as well as after-sales service.
Driven by the massive development of renewable energy and reforms to the electric power system in Japan, and the need to strengthen and better integrate the different electrical systems in Japan, use of HVDC transmission is expected to be increasingly deployed for applications such as regional interconnections in the transmission grid and grid connections for offshore wind power integration. In particular, it is anticipated that greater use will be made of VSC-HVDC*2, which is already widely used across the world.
Hitachi ABB HVDC Technologies, Ltd. intends to contribute to high-quality and stable electricity supplies in Japan by combining the strengths of both companies such as Hitachi's sales network, project management know-how, and quality assurance processes with leading-edge HVDC technology and system integration capability from ABB.
|Name||Hitachi ABB HVDC Technologies, Ltd.|
|Headquarters||1-18-13 Soto-Kanda, Chiyoda-ku, Tokyo|
|Capital||7 hundred million yen (Hitachi: 51%, ABB: 49%)|
|Management||Chairman & CEO: Atsushi Nishioka|
President & COO: David Larsson
|Business activities||Engineering, HVDC system study, manufacturing, assembly and testing, marketing, sales and after sales services of converter valves and control and protection systems for HVDC projects in Japan, including upgrade of existing HVDC installations in Japan|
|Employees||Starting with 10 employees at the time of the establishment|
ABB (www.abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 140,000 people. ABB Japan is based in Tokyo and has been active in Japan for more than 100 years.
Hitachi, Ltd. (www.hitachi.com), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015) totaled 9,761 billion yen ($81.3 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes power & infrastructure systems, information & telecommunication systems, construction machinery, high functional materials & components, automotive systems, healthcare and others.