ABB & Fluor To Build Power Substation Projects Worldwide
Zacks Investment Research | Oct 04, 2016 10:05PM ET
Swiss engineering giant ABB Ltd. (NYSE:ABB) has joined forces with engineering and construction firm – Fluor Corporation (NYSE:FLR) – to cater to the growing needs of power grids worldwide for safe, reliable and state-of-the-art electrical substations.
Through this strategic partnership, ABB and Fluor will execute large turnkey engineering, procurement, construction (“EPC”) electrical substation projects.
Substations are crucial elements in power grid infrastructure, as they enable the efficient transmission and distribution of electricity. They connect power stations to the grid, control and protect power flows, and link transmission and distribution networks as well as end users.
The venture will leverage on ABB’s leading technology and its leadership position in power transmission and distribution, along with Fluor’s capability and experience in delivering large EPC projects. Thus, the alliance can bring integrated solutions and unique synergies to clients in the substation market.
The companies intend to capitalize on the huge prospects unlocked by the ongoing energy revolution and the related power infrastructure investments through this partnership.
ABB is an established leader in air-insulated, gas-insulated and hybrid substations (with voltage levels up to 1,200 kV). The company’s substations facilitate efficient transmission and distribution of electricity, with the least environmental impact. They cater to a broad range of customers, like utility, industrial and commercial, as well as sectors like renewables, railways and urban transportation.
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