Tuesday 21 May 2024

Hitachi plans $1.5bn investment to boost transformer production

ZURICH, 27 days ago

Hitachi Energy, a global technology leader, has announced plans to invest an additional $1.5 billion to ramp up its global transformer manufacturing capacity by 2027 to keep pace with the growing demand and support the long-term plans and electrification efforts.
These investments will gradually expand the company’s global transformer capacity by 2027 and are in addition to the $3 billion already announced to progress on the electrification of the energy system driven by the energy transition, said the company in a statement.
These will help accelerate global demand, address long-term customer investments and create over 4,000 jobs, it stated.
"The demand for transformers and electrical equipment has grown at an unprecedented scale, and we are investing to address our customers' mid- and long-term needs. We are developing our global footprint and capacity and progressing in digitalization and technology to deliver even more sustainable and reliable solutions," remarked Bruno Melles, the Managing Director of the Transformers Business at Hitachi Energy, during the company's flagship customer event, Energy & Transformers Days in Rome, Italy.
Today, the company is also announcing an investment of around $180 million in a new state-of-the-art transformer factory in the Vaasa region, Finland. 
This top-notch 30,000-sq-m campus will be a testament to Hitachi Energy's dedication to innovation, quality, and environmental stewardship, stated Melles.
The investments complement Hitachi Energy's broader growth efforts, which include the recently announced larger than $30 million expansion in Bad Honnef, Germany. Leveraging the company’s global footprint, additional investments will follow in Europe, the Americas, and Asia to meet the growing demand for power and distribution transformers.
Hitachi Energy’s transformer facility expansions include the ongoing project in South Boston, Virginia, US, and other recently completed projects at Jefferson City, Missouri, US, and Dos Quebradas, Colombia. 
In addition, the company has inaugurated new cutting-edge factories in Chongqing, China, and Hanoi, Vietnam, together with a new transformer service center in Welshpool, Australia.
"Our global investments, including the new transformer campus in Finland, underline our commitment to co-create with our utility and industry customers and partners the path to accelerate the energy transition," noted Melles. 
"By strategically leveraging our global footprint, technology, and the expertise of our teams, we are not only poised to meet the global demand for sustainable energy solutions but also to drive the innovation necessary for a carbon-neutral future,”he added.-TradeArabia News Service


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