Zurich-based power and automation firm ABB has formed a joint venture (JV) with Hitachi to deliver high-voltage direct current (HVDC) system solutions in Japan.
Hitachi will have 51% equity in the new JV, with ABB owning the remaining stake.
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The JV will be based in Tokyo. Both companies will be responsible for the designing, engineering, supply and after-sales services for the DC system of HVDC projects in the country.
The two firms are hoping their collaboration will strengthen Japan’s power network.
Operations for the JV are expected to begin in the coming months, however the companies are still awaiting the consent of regulatory approvals and statutory procedures.
Hitachi chairman and CEO Hiroaki Nakanishi said: "I am confident that the establishment of a new company, combining the strengths of Hitachi and ABB, will provide a framework for the timely provision of the new technologies required by the Japanese HVDC market.
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By GlobalData"By enhancing and expanding the HVDC business through its partnership with ABB, which has a strong performance record in the global market, Hitachi will continue to contribute to the stabilisation of Japan’s electric power grid."
ABB CEO Ulrich Spiesshofer said: "Together we can build on our complementary strengths to play our part in the evolution of Japan’s power infrastructure."
