Hitachi will invest an additional $4.5 billion by 2027 to strengthen the electricity grid and accelerate the transition to clean energy .
The global technology company's backlog of orders has more than tripled to over $30 billion since 2020.
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Just last month, Hitachi Energy signed landmark HVDC agreements with RTE in France, RWE in Germany and Marinus Link in Australia, as well as a service contract with Pattern Energy in the US for the SunZia Transmission Project. The company also announced the Sa.Co.I.3 interconnection between Italy and France.
The Zurich-based company announced on Friday that it will more than double its new investments over the past three years in manufacturing, engineering, digital technology, R&D and partnerships in all major markets from 2024 to 2027. This move complements the $1.5 billion investment announced in April to increase global transformer production.
The integration of more renewable energy sources such as solar and wind requires a secure and flexible grid. Hitachi Energy will develop solutions based on power electronics, network automation, software and services, as well as design and manufacture high-voltage direct current (HVDC) products.
The company will invest approximately $330 million across all products in its portfolio to expand and modernize the flagship factory in Ludvika and open a new campus in Vasteras, both in Sweden.
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The Ludvika plant, which manufactures transformers, high-voltage products and HVDC systems, will be expanded by more than 30,000 square meters. This will enable the production of larger transformers to support critical HVDC projects. The new campus in Vasteras will house 1,800 employees, including a research and development (R&D) center as well as a production facility for grid automation systems. Hitachi Energy announces that it will increase workforce in Sweden by 2,000 people.
Source: electrek
