by Brianna Crandall — September 1, 2021 — Hitachi ABB Power Grids recently announced that it will be evolving to become Hitachi Energy from October 2021. The decision to change name and corporate brand coincides with the business’ first-year anniversary. Hitachi Ltd. has an 80.1 percent stake in the joint venture, and ABB Ltd. holds the balance.
Headquartered in Zurich, Switzerland, the global technology provider brings a rich heritage of pioneering breakthroughs that have helped to increase access to safe, secure and reliable electricity for more than one century. These range from pioneering innovations such as long-distance commercial HVDC technology (almost seven decades ago), which enables countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometers while reducing carbon footprint, to providing microgrids and energy storage solutions that combined with state-of-the-art intelligent control systems ensure reliable distributed power availability. The business says it has played a leading role in enabling a stronger, smarter and greener global energy system.
Today, combating climate change is of paramount importance and one of the most urgent challenges of our times, asserts Hitachi ABB. According to the IEA’s Net Zero by 2050 report, “the path to net zero emissions is narrow,” and staying on it requires increased investment in infrastructure and, specifically, an “immediate and massive deployment of all available clean and efficient energy technologies.”
By 2030, the world economy is expected to be some 40 percent larger but consuming seven percent less energy to be on track for net zero in 2050. By this time “the energy sector will be dominated by renewables” and “electricity will account for almost 50 percent of the total global energy consumption” — up from about 20 percent today, according to the report. An equitable and sustainable energy transition is at the center of this global challenge, where electricity will be the backbone of the entire energy system.
Hitachi ABB Power Grids places sustainability at the heart of its purpose: powering good for a sustainable energy future. The transition to the Hitachi Energy name reflects the rapidly evolving energy landscape and the opportunity to create economic, environmental and social value; and with Hitachi enabling the business to position its pioneering and digital technologies to serve existing and future customers, going beyond the grid — opening up a breadth of opportunities in areas like sustainable mobility, smart life and data centers. By combining advanced digital solutions and services, such as Hitachi Lumada, with an energy platform that is built on unique domain expertise and experience, the business is serving customers and partners co-creating global solutions to solve the global challenge of an inclusive and equitable carbon-neutral future.
With a combined heritage of almost 250 years, Hitachi ABB Power Grids employs around 36,000 people in 90 countries. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas such as sustainable mobility, smart cities, energy storage and data centers. Hitachi ABB Power Grids balances social, environmental and economic values and is committed to developing pioneering and digital technologies to enable a stronger, smarter and greener grid.