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Hitachi ABB Power Grids to become ‘Hitachi Energy’ [free access]

July 1, 2021

On the occasion of its first anniversary, Hitachi ABB Power Grids last week announced that it will be known as ‘Hitachi Energy’ from October 2021. The name change reflects the firm’s business evolution amid a rapidly evolving energy landscape and highlights a potentially new direction for the company’s growth beyond the grid, to unlock new opportunities in emerging areas via an integration with its core digitalisation offerings. 

 

Last year in June 2020, Hitachi and ABB had closed their USD11 billion deal to officially launch Hitachi ABB Power Grids. Hitachi today holds an 80.1 per cent stake in the Zurich-headquartered Hitachi ABB Power Grids joint venture (JV), while ABB holds the remaining 19.9 per cent equity stake, however, ABB also holds a pre-defined option to exit the retained shareholding three years after closing—or by 2023.  

 

Hitachi ABB Power Grids also announced that when it officially adopts the name ‘Hitachi Energy’ in October, it will also change its corporate brand to the Hitachi brand and use it for external and internal communications.  

 

The business formally registered Hitachi Energy Ltd. on June 30, 2021 and is now undertaking the formal process for the change of names globally.