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. Hitachi ABB Power Grids places sustainability at the heart of its purpose: powering good for a sustainable energy future. 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. 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 today². According to the IEA’s ‘Net Zero by 2050’ report², ‘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. Today, combating climate change is of paramount importance and one of the most urgent challenges of our times. The business has played a leading role enabling a stronger, smarter and greener global energy system. These range from pioneering innovations such as long distance commercial HVDC¹ technology, that 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. Headquartered in Zurich, Switzerland, the global technology and market leader brings a rich heritage of pioneering breakthroughs, which have helped to increase access to safe, secure, and reliable electricity for more than one century.

has an 80.1 percent stake in the joint venture and ABB Ltd. The decision to change name has board and shareholder consent and coincides with the business’ first-year anniversary since it started operations on 1 July, 2020. Hitachi ABB Power Grids today announced that it will be evolving to become Hitachi Energy from October 2021.

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