Insights Into Siemens’ Stunning Gas and Power, Renewables Shakeup

Credit to Author: Sonal Patel| Date: Mon, 13 May 2019 03:05:05 +0000

In the days following its May 7 announcement that it will spin off its Gas and Power business, Siemens has fleshed out how and when the carveout will occur, laid out its reasons for lumping its energy businesses together, and put forth a market case for why a business separation may be a “win-win” situation […]

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Leadership Shakeup at ABB Amid Power Grids Business Overhaul

Credit to Author: Sonal Patel| Date: Wed, 17 Apr 2019 12:15:58 +0000

Only months after ABB announced Hitachi would acquire a majority stake in its flagship power grids business for $11 billion, the company’s board of directors ousted CEO Ulrich Spiesshofer and officially launched a search for a new leader.  The Zurich-based technology giant said on April 17 that the board of directors and Spiesshofer “mutually agreed […]

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Japanese Conglomerates Rejigger Power Sector Strategies

Credit to Author: Sonal Patel| Date: Thu, 21 Feb 2019 12:30:56 +0000

Hitachi and Mitsubishi Heavy Industries (MHI), two giant Japanese companies with substantial stakes in the world’s power sector, are separately rethinking future business directions as sizable disruptions shake up prospects for traditional market growth. In recent months, Hitachi refined its business model to prepare it for explosive demand in  digitalization solutions, focusing heavily on grid […]

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Consortium Asks UK to Support SMR Nuclear Development

Credit to Author: Darrell Proctor| Date: Mon, 28 Jan 2019 20:16:57 +0000

Small modular reactors (SMRs) are becoming a technology of choice among those who continue to push nuclear power as a zero-emissions source of generation. The collapse of plans to build new large reactors in the UK has meant companies there are looking at SMRs in an effort to keep that country’s nuclear power program viable. […]

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Hitachi May Scuttle UK Nuclear Project

Credit to Author: Darrell Proctor| Date: Mon, 14 Jan 2019 00:53:01 +0000

Hitachi may cancel its plans for a $20.5 billion nuclear power project in Wales, according to several media reports from the UK and Japan. The Japanese company is expected to determine the fate of the project at a board meeting this week. The Guardian newspaper was among those that in recent days reported an impasse in […]

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Hitachi Acquires ABB Power Grids Business in $11 Billion Deal

Credit to Author: Darrell Proctor| Date: Mon, 17 Dec 2018 19:42:40 +0000

Hitachi Ltd. and ABB on December 17 announced that Hitachi will acquire 80.1% of ABB’s Power Grids unit in an $11 billion deal. Reports of the possible acquisition surfaced December 16, with several media outlets including POWER  discussing the agreement, citing sources familiar with the deal who asked not to be identified. Hitachi plans to […]

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ABB Nears Sale of Power Grids Division to Hitachi in $11 Billion Deal

Credit to Author: Darrell Proctor| Date: Sun, 16 Dec 2018 23:58:55 +0000

Hitachi Ltd. and ABB could announce an $11 billion deal as soon as December 17 in which Hitachi will acquire 80% of ABB’s power grids unit. Reports of the possible deal surfaced December 16, with Bloomberg and others citing sources familiar with the agreement who asked not to be identified. Neither ABB nor Hitachi commented […]

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