Hitachi Energy has announced plans to invest an additional $4.5 billion in manufacturing, engineering, digital, research and development, and partnerships by 2027, doubling its investments over the past three years. This investment complements the $1.5 billion announced in April aimed at ramping up global transformer production. According to Hitachi Energy, these substantial investments are intended to meet market demand and customer commitments by enhancing global R&D, engineering, and manufacturing capacities in transformers, high-voltage direct current (HVDC), and high-voltage products.
The new funding will also support the deployment of power electronics-based solutions, grid automation, software solutions, and services as part of the Hitachi Energy 2030 Plan. Additional investments will be directed towards partnerships, supply chain, digitalization, and automation to boost capacity and speed to market. Hitachi Energy emphasized that electrification is crucial for achieving net zero goals, requiring innovative software solutions and significant production increases of critical technologies to expand the electricity grid. Integrating renewable energy sources and meeting the electrification demands of various sectors necessitate a secure and flexible grid infrastructure.
Moreover, Hitachi Energy announced a $330 million investment to expand and modernize its flagship factory in Ludvika, Sweden, and a new campus in Vasteras, Sweden. The Ludvika factory, with over 120 years of innovation, will expand by more than 30,000 square meters to enhance manufacturing capacity for large transformers and key HVDC projects. The Vasteras campus will house 1,800 employees, including an R&D center and a production facility for grid automation, with plans to grow the workforce in Sweden by 2,000 to support the accelerating energy transition. Claudio Facchin, CEO of Hitachi Energy, stated, "Electricity will be the backbone of the entire energy system, and the change is happening faster than many thought possible."
Source:renews.biz
