ABB Ltd. (ABB) received an order to supply a new high-voltage underground cable system for the South-West Link power transmission project in southern Sweden for a total consideration of $160 million. The order has been received from the national grid, Svenska Kraftnät.
The project aims to build the world’s longest and most powerful underground cable link. The order was booked in the fourth quarter of 2011. The project is scheduled to be completed in 2014.
The new transmission system will improve capacity while strengthening the dependability of the national power grid. The transmission capacity of the south country and between Sweden and Norway will be expanded. This expansion will enable the integration of large-scale wind power into the Swedish power network.
Electric power of x 660 megawatts (MW) at a voltage level of 300 kilovolts (kV) will be transmitted across a distance of about 200 kilometers between Barkaryd and Hurva in southern Sweden through ABB’s underground HVDC cable system. Full cable system, including terminations, joints and other accessories will be designed, engineered, manufactured, supplied and installed by ABB.
As per a recent announcement, ABB will invest $90 million and $400 million in the US and Sweden, respectively, to boost production capacity of land and subsea cables.
Based in Zurich (Switzerland), ABB Ltd. is a global provider of power and automation technologies that enable utility and industry customers to improve performance, while lowering environmental impact. The company serves electric, gas, and water utilities, as well as industrial and commercial customers, with a broad range of products, systems, and services for power transmission, distribution, and power plant automation. The company operates in approximately 100 countries, structuring its global organization into five regions: Europe, Americas, Asia, the Middle East and Africa. A major competitor of ABB Ltd. is Siemens AG (SI).
Currently, we are maintaining a Zacks #4 Rank (short-term Sell recommendation) on ABB Ltd.
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment