Energy companies Hitachi Ltd and ABB Ltd have announced the formation of Hitachi ABB Power Grids Ltd which will operate in six Western Balkan countries including Albania, Bosnia and Herzegovina, Croatia, Montenegro, North Macedonia, and Serbia.
Their “world-class power grid solutions” will play an active role in regional and global decarbonisation of energy systems.
Headquartered in Switzerland, the newly formed entity has annual revenues of over USD 10 billion, employs 36,000 people and is operational in 90 countries.
Claudio Facchin, CEO of Hitachi ABB Power Grids, said the company will remain committed to powering a sustainable energy future, “as the partner of choice for enabling a stronger, smarter and greener grid.”
Intelligent grid solutions will “help achieve the UN’s clean energy goal”.
Focuses of the new venture will include not only the decarbonisation of energy systems but initiatives in mobility, smart cities, industry, energy storage and data centres. They will also provide financial assistance to support ambitious projects in the field of green energy.