Hitachi Limited has announced that it has completed the procedures for its 80.1 per cent investment in the company operating power grids business that had been carved out from ABB Limited, pursuant to the acquisition agreement signed on December 17, 2018.
The new company, Hitachi ABB Power Grids Limited has begun operations. The alliance with Hitachi is expected to facilitate expansion opportunities for the new entity in areas such as mobility, smart cities, industry, energy storage and data centres, besides providing financial muscle to support ambitious projects and enabling access to Japan.