An equitable and sustainable energy transition is at the center of this global challenge, where electricity will be the back-bone 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’ report, ‘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 avail-able 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 pio-neering innovations such as long distance commercial HVDC1 technology, that ena-bles countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometres while reducing carbon footprint, to providing microgrids and energy storage solutions that combined with state-of-the-art intelligent control sys-tems, 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 per-cent 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 July 1, 2020. Hitachi ABB Power Grid Hitachi ABB Power Grids has announced that it will be evolving to become Hitachi Energy from October 2021.
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