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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.
June 28, 2022
Collaboration combines complementary technologies and expertise of both companies to increase customer value and help accelerate the energy transition
Zurich, June 28, 2022 – Hitachi Energy a market and technology leader in transmission, distribution and grid automation solutions, and Petrofac, a leading international service provider to the energy industry, have entered into a collaboration to provide grid integration and associated infrastructure to support the rapidly growing offshore wind market.
This collaboration builds on the complementary core technologies and expertise of both companies in offshore wind to support the decarbonization of power systems and deliver clean energy. It covers high-voltage direct current (HVDC), as well as high-voltage alternating current (HVAC) solutions.
Hitachi Energy's HVDC Light® and modular HVAC grid technologies and solutions and Petrofac's world-class engineering, procurement, construction and installation capabilities for offshore platforms and offshore and onshore civil works, will bring considerable benefits to the efficient implementation of offshore wind projects and help accelerate the energy transition.
"We are delighted to collaborate with Petrofac to help meet the growing need for large-scale offshore wind generation and deliver clean renewable electricity to consumers. As leaders in our respective fields, this collaboration will create added value for our customers and help accelerate the energy transition," said Niklas Persson, Managing Director of Hitachi Energy's Grid Integration business. "Our HVDC and HVAC solutions are key enablers of the transition to a global energy system that is more sustainable, flexible and secure."
"Offshore wind plays a crucial role in the transition to clean, affordable energy and we've been successfully delivering major projects in the sector for more than a decade now," said Elie Lahoud, Chief Operating Officer, Engineering & Construction of Petrofac. "Hitachi Energy is well known for its long track record in providing innovative technologies and solutions across the power grid value chain. We look forward to bringing our industry-leading experience and deep domain knowledge together, to benefit our customers and power millions more homes using renewable energy."
Recent Hitachi Energy HVDC offshore wind projects include Dogger Bank, the world's largest offshore wind farm off the UK coast, and four of the DolWin and BorWin HVDC hubs that connect multiple wind farms in the North Sea to the German power grid.
Hitachi Energy is also a global leading supplier of grid connection solutions for the AC offshore wind farms industry.
Offshore wind is undergoing unprecedented growth globally. In 2021, a record 15.7 gigawatts (GW) of capacity were added, compared to around 5.2 GW per year in 2020 and 2019, according to World Forum Offshore Wind.(1)
Hitachi Energy pioneered HVDC almost 70 years ago and has delivered more than half of the world's HVDC projects and more than 70 percent of the world's voltage source converter (HVDC Light) installations. HVDC Light is the technology of choice for transferring power over long distances from offshore wind farms to the mainland grid. Its defining features include uniquely compact converter stations (which is extremely important in space-critical applications like offshore wind platforms), exceptionally low electrical losses of less than 1 percent, and black-start capability to restore power after a grid outage.
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world's energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.
Hitachi drives Social Innovation Business, creating a sustainable society with data and technology. We will solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products, under the business structure of Digital Systems & Services, Green Energy & Mobility, Connective Industries and Automotive Systems. Driven by green, digital, and innovation, we aim for growth through collaboration with our customers. The company's consolidated revenues for fiscal year 2021 (ended March 31, 2022) totaled 10,264.6 billion yen ($84,136 million USD), with 853 consolidated subsidiaries and approximately 370,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.
Petrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values – driven, agile, respectful and open – are at the heart of everything we do.
Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have around 8,200 employees based across 31 offices globally.
Petrofac is quoted on the London Stock Exchange (symbol: PFC).
For additional information, please refer to the Petrofac website at www.petrofac.com.