Hitachi Energy has unveiled plans to bolster its investments, committing over $4 billion to various facets of its operations by 2027. This substantial infusion of capital marks a significant increase from previous years and is aimed at fortifying the company's manufacturing, engineering, digital, research and development (R&D), and partnership endeavors.
The announcement comes on the heels of a recent $1.5 billion investment in April, which was specifically earmarked to enhance global transformer production. The combined funds are poised to empower Hitachi Energy in fulfilling customer obligations and addressing market dynamics, particularly in augmenting its global R&D, engineering, and manufacturing capabilities, notably in transformers, high-voltage direct current (HVDC) systems, and related products.
In line with Hitachi Energy's 2030 Plan, the investments are slated to facilitate the deployment of cutting-edge solutions in power electronics, grid automation, software, and services. These initiatives are deemed crucial in supporting the energy transition and meeting the electrification needs of various sectors, including transportation, buildings, and industry.
Claudio Facchin, CEO of Hitachi Energy, emphasized the urgency of adapting to the evolving energy landscape, stating, “Electricity will be the backbone of the entire energy system and the change is happening faster than many thought possible.”
Facchin underscored the pivotal role of technology and collaboration in accelerating the pace of transformation, noting, “New business models, harmonization of designs, along with partnerships are key drivers for the increase in the pace of change.”
Hitachi Energy's strategic investments also extend to infrastructure enhancements, with plans to expand and modernize its flagship factory in Ludvika, Sweden, and establish a new campus in Vasteras. These initiatives reflect the company's commitment to innovation and growth, as it seeks to bolster its workforce and manufacturing capacities to meet evolving market demands.
The company's recent announcements regarding key HVDC projects underscore its proactive approach in addressing market needs and advancing scalable business models. Framework agreements with major players in various regions signal Hitachi Energy's commitment to driving innovation and facilitating the transition towards a more sustainable energy ecosystem.
