Hitachi Energy Surpasses 150 GW Milestone in HVDC Links, Pledges $3 Billion Investment for Accelerated Global Energy Transition

Zurich, Switzerland, Oct. 24, 2023 -- Hitachi Energy, a global technology leader, has achieved a significant milestone by integrating more than 150-gigawatts (GW) of high-voltage direct current (HVDC) links into the power system, a feat equivalent to meeting Japan's peak power demand. This achievement follows the successful delivery of power from Dogger Bank, the world's largest offshore wind development, via the UK's pioneering use of HVDC technology on a wind farm.

In line with its commitment to driving the clean energy transition, Hitachi Energy has bolstered its infrastructure, making a substantial $3 billion investment in global manufacturing, engineering, and research and development (R&D) capabilities. The company has also expanded its workforce by more than 8,000 since 2020, marking a steadfast commitment to bolstering its position as a strategic partner throughout the entire energy lifecycle.

Speaking about the company's achievement, Claudio Facchin, CEO of Hitachi Energy, emphasized the pivotal role of electricity in the clean energy transition. "Today's announcement demonstrates our commitment to empowering customers to accelerate the development of the power grids necessary for the energy system," he stated.

The investment aligns with the Hitachi Energy 2030 Plan and Hitachi's Mid-term Management Plan 2024, emphasizing three key focus areas, namely strengthening the power grid core business, doubling efforts in digital and services, and fostering innovation through partnerships and mergers and acquisitions (M&A).

Highlighting the significance of this progression, the International Energy Agency (IEA) recently underscored the pressing need to significantly increase grid investments to over $600 billion annually by 2030, with a focus on a secure supply chain and skilled workforce.

As global electrification gains momentum across transport, buildings, and industries, Hitachi Energy remains committed to fortifying its business to accommodate the forecasted 2050 energy system, characterized by a quadrupled global power generation capacity and a threefold increase in the transfer of electrical energy.

"Our journey with Hitachi since July 2020 has accelerated our growth and expansion, leveraging synergies across the Hitachi Group," added Facchin. "With our profound energy expertise combined with digitalization, we are well-positioned to provide innovative services and solutions at scale, supporting our customers throughout the entire lifecycle."

About Hitachi Energy Ltd. Hitachi Energy is a global technology leader focused on advancing a sustainable energy future for all. With operations spanning the utility, industry, and infrastructure sectors, the company pioneers technologies and enables digital transformation to accelerate the energy transition towards a carbon-neutral future. Hitachi Energy's dedication to sustainability, flexibility, and security in the energy system is exemplified through its widespread presence across 140 countries, supported by a workforce of around 40,000 employees worldwide. For more information, visit https://www.hitachienergy.com.

About Hitachi, Ltd. Hitachi is committed to driving Social Innovation Business, addressing societal challenges through the innovative use of data and technology. The company's operations span three core areas, including "Digital Systems & Services," "Green Energy & Mobility," and "Connective Industries," all of which aim to facilitate digital transformation, contribute to decarbonization, and provide solutions across various industries. With a global presence and a strong commitment to co-creation, Hitachi remains dedicated to sustainable growth. For more information on Hitachi, please visit https://www.hitachi.com.