Market News

APAC HVDC Transmission Systems Market- Recent Developments

In September 2022, ABB Ltd. A Swedish-Swiss multinational corporation operating in power and utility sector announced that it would sell the remaining stake in Hitachi Energy, a subsidiary of Hitachi group which operates in the utility sector to the later. The joint Venture that was announced in 2018 would officially come to an end after this buyback of stakes.
In October 2022, Sun Cables, an Australian start-up operational in the energy industry announced the formation of Asian Green Grid Network (AGGN). The primary objective behind this development was to foster innovation in support of faster cross-border transmission of electricity with the help of power grid in several countries across Asia.
In June 2022, Hitachi Energy, a subsidiary of Japanese business conglomerate & lsquo;Hitachi Group’, announced that they are on the track to develop an improved HVDC transmission system to boost the supply of electricity. This new system would be initially installed for the Canadian hydropower project. This modernized system could have large scale implications in other regions of the world including the Asia Pacific if implemented seamlessly.
In November 2022, Toshiba Energy Systems and Solutions Corporation, a subsidiary of Japanese business conglomerate, Toshiba Group announced a strategic collaboration with Hokkaido Electric Power Company, a monopoly electric company in Hokkaido, Japan, to advance the thermal power plant operations and electricity distribution thereafter using IoT and AI Technologies.