An equitable and sustainable energy transition is at the center of this global challenge, where electricity will be the backbone of the entire energy system. By this time ‘the energy sector will be dominated by renewables’ and ‘electricity will account for almost 50 percent of the total global energy consumption’ – up from about 20 per cent today2. According to the IEA’s ‘Net Zero by 2050’ report2, ‘the path to net zero emissions is narrow’ and staying on it requires increased investment in infrastructure, and specifically, an ‘immediate and massive deployment of all available clean and efficient energy technologies.’ By 2030, the world economy is expected to be some 40 per cent larger but consuming seven per cent less energy to be on track for net zero in 2050. Today, combating climate change is of paramount importance and one of the most urgent challenges of our times. Hitachi and Hitachi Energy will contribute to solve social issues and improve people's QoL by realising social innovation in the energy field with customers and partners.” Toshiaki Higashihara, Executive Chairman and CEO of Hitachi, said, “With climate change and increasing natural disasters, there is a need to solve three social issues worldwide: environment, resilience, and security and safety.” He continued, “Hitachi ABB Power Grids provides a variety of solutions that solve these social issues, and by changing the company name to Hitachi Energy, we are further strengthening our commitment to the realization of a sustainable society. The business has played a leading role enabling a stronger, smarter and greener global energy system. These range from pioneering innovations such as long distance commercial HVDC1 technology, that enables countries to efficiently transmit large amounts of power with minimum losses over thousands of kilometers while reducing carbon footprint, to providing microgrids and energy storage solutions that combined with state-of-the-art intelligent control systems, ensure reliable distributed power availability. Headquartered in Zurich, Switzerland, the global technology and market leader brings a rich heritage of pioneering breakthroughs, which have helped to increase access to safe, secure, and reliable electricity for more than one century.
has an 80.1 per cent stake in the joint venture and ABB Ltd. The decision to change name has board and shareholder consent and coincides with the business’ first-year anniversary since it started operations on 1 July, 2020.
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