HITACHI ENERGY INVESTS US$1.5 BLN TO BOOST GLOBAL TRANSFORMER PRODUCTION BY 2027

KUALA LUMPUR, April 24 (Bernama) -- Hitachi Energy announced investments of over US$1.5 billion to ramp up its global transformer manufacturing capacity to keep pace with the growing demand and support the long-term plans and electrification efforts. (US$1=RM4.77)

The investments will gradually expand the company’s global transformer capacity by 2027 and are in addition to the US$3 billion already announced to progress on the electrification of the energy system driven by the energy transition.

“The demand for transformers and electrical equipment has grown at an unprecedented scale, and we are investing to address our customers' mid- and long-term needs.

“We are developing our global footprint and capacity and progressing in digitalisation and technology to deliver even more sustainable and reliable solutions,” said Hitachi Energy Managing Director of the Transformers Business, Bruno Melles in a statement.

Concurrently, the company is also announcing an investment of around US$180 million in a new state-of-the-art transformer factory in the Vaasa region, Finland, whereby this top-notch 30,000-square-metre campus will be a testament to Hitachi Energy's dedication to innovation, quality, and environmental stewardship.

The investments complement Hitachi Energy's broader growth efforts, which include the recently announced larger than US$30 million expansion in Bad Honnef, Germany.

Leveraging the company’s global footprint, additional investments will follow in Europe, the Americas, and Asia to meet the growing demand for power and distribution transformers.

Hitachi Energy is the world's largest transformer manufacturer in terms of installed base, portfolio range, manufacturing capacity, and market coverage, with over 60 transformer factories and service centres worldwide.

All the announced transformer investments include sustainable and innovative manufacturing technologies for operational efficiency while ensuring high standards for safety and quality.

-- BERNAMA