ABB Ltd. (ABB) recently received another contract worth $45 million from Sweden’s national grid, Svenska kraftnät. Per the contract, whose primary aim is to strengthen the Swedish power grid, ABB will supply three 400 kilovolt (:KV) substations.
Prior to this, Svenska kraftnät had assigned ABB a contract 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 present contract will upgrade the existing grid and thereby improve reliability and supply quality to consumers. The scope of the contract requires ABB to design and supply engineered packages for the high-voltage air-insulated switchgear (:AIS) substations. In addition to a variety of high voltage gear, ABB will provide an innovative combined disconnector circuit breaker (:DCB).
This DCB puts together the disconnecting function into the circuit breaker and eliminates the need for two separate free-standing disconnectors. The DCB not only reduces the need for extra equipment but also helps in reducing the carbon footprint of the substation by almost 50%.
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, with its global organization structured into five regions: Europe, the Americas, Asia, the Middle East and Africa.
Currently, ABB Ltd. carries a Zacks #4 Rank (Sell). Some better-ranked stocks in the sector include Enersys Inc. (ENS), Franklin Electric (FELE) and Plug Power Inc. (PLUG), all of which carry a Zacks Rank #2 (Buy).Read the Full Research Report on ABB
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