UK to roll out millions of rapid COVID tests after criticism    Outbreak hits Norway cruise ship, could spread along coast    Sent off for a cough? FA issues guidelines to referees    Egypt's NTRA tests quality of mobile services in June    Australia's Melbourne clamps down in frantic bid to curb virus    China says it opposes any US actions against Chinese software firms    Egypt says Turkish survey in Mediterranean a violation of sovereign rights    Lord & Taylor, Men's Wearhouse owner file for bankruptcy amid pandemic woes    Premier League start date too early for Chelsea: Lampard    FIFA says no reason for Swiss authorities to investigate Infantino    Egypt requires top taxpayers to issue e-invoices mid-November    Egypt sees unprecedented increase in investment spending – minister    Lebanon's foreign minister resigns amid economic crisis    Mass jailbreak in Afghanistan, at least 24 die in Islamic State attack    Kuwait to review suspension of flights from Egypt – ministry    167 new coronavirus cases, 31 deaths recorded in Egypt on Sunday    Egypt's Sisi congratulates UAE on its first Arab nuclear power plant    EgyptAir cancels scheduled flights to Kuwait until further notice    Churches in Egypt to be reopened gradually on Monday    Egypt invites Tesla's founder to visit Giza Pyramids after controversial tweets    Kenya Airways resumes international flights after virus curbs lifted    Egypt pumps more coins into market during Eid Al-daha holiday    Sisi: Egypt favours negotiations over a military solution to resolve Nile dam crisis: Al-Sisi    Death of young actor fuels debate on nepotism in Bollywood    Moroccan Houda Abouz break through in rap scene dominated by men    Egyptian film 'Saheb El-Maqam' to premier on Shahid in Adha feast    Egypt rejects unilateralism compromising right to Nile water, Sisi tells South African counterpart    No room to delay Egyptian Premier League games – EFA's board member    Egypt's National Elections Authority released on Friday a tutorial video for Egyptians for how to vote in the upcoming senate elections due to coronavirus pandemic    Egypt's President Sisi ratifies extending state of emergency for 3 months    Egypt's Sisi extends state of emergency for three months    Egypt Cup games to resume after Premier League finishes: EFA    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Egypt calls on UNSC to address oil spill risks off Yemen coast    Hyksos campaigns were internal takeover, not foreign invaders: study    Reports over Ethiopia filling mega-dam    Foreign player numbers in Egyptian Premier League clubs to not change next season    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Google ‘translate' ancient Egyptian hieroglyphs    Zaha speaks out after online racial abuse    Farwell to 74-year old Egyptian military production minister El-Assar    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





ABB, Hitachi launch $10bn joint power venture
New company to develop energy networks to meet growing demand for, and increase volume of, renewable energy in electricity system
Published in Daily News Egypt on 02 - 07 - 2020

Leading technology firms, Hitachi and ABB, have announced the launch of Hitachi ABB Power Grids, with an annual turnover of $10bn.
The launch comes as the two companies completed a joint merger, which will see Hitachi hold 80.1% of the new joint entity, while ABB will maintain the remaining percentage.
The deal reflects the commercial importance placed by the global energy sector on sustainable energy, including facilities, mobility solutions, smart cities, industry and information technology. The two companies are now looking to grow and improve on these capabilities, according to Thursday's statement.
Hitachi ABB Power Grids will look to develop energy networks to meet the growing demand for, and include a greater volume of, renewable energy within the electricity system.
Claudio Facchin, Head of ABB's Power Systems Division has been named as CEO of the new company, with Hitachi Executive Vice President Toshikazu Nishino as Chairperson. Hitachi ABB Power Grids will expand Hitachi's energy solutions business globally as a core part of the company's Social Innovation Business.
The new entity's headquarters will remain in Zurich, Switzerland, with the current management team ensuring business continuity. Hitachi ABB Power Grids looks to operate with about 36,000 employees in over 90 countries.
Nishino said that Hitachi's pioneering digital technologies with world-class energy grid solutions will help the company play an important role in global transformation. It will also look to reduce carbon emissions from energy systems, to provide a sustainable energy future, alongside smart solutions for the most dynamic network.
Nishino added, "It will also contribute to achieving the United Nations Sustainable Development Goal 7, which is to ensure universal access to affordable, reliable and clean energy."


Clic here to read the story from its source.