ABB announces the sale of its Power Grids division to Hitachi for $11 billion

Published:
December 17, 2018
Coverage:
Owning the Energy Transition More...
Categories:
Distribution and transmission products | Smart electric vehicle charging More...
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Acquisition
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by Max Halik
Truly disruptive

ABB recently announced the sale of its Power Grids business unit, which offered high-voltage distribution and transmission products and infrastructure, including transformers and HVDC transmission systems. Initially, an 80% stake will be sold to Hitachi for about $9 billion, with the rest to be sold later on. The company will still offer its electrification products, which include low-voltage products, EV charging infrastructure, and solar inverters. As we anticipated, State Grid is likely responsible for this deal; the utility giant is consistently winning out for large grid projects and pressuring competition. Clients should expect further Asian dominance in this space, but Hitachi will need to accelerate to compete with State Grid.

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