Leading global technology company ABB said it has joined forces with Fluor, a leader in engineering, procurement, construction sector, to execute large turnkey engineering, procurement and construction (EPC) projects for electrical substations globally.
By combining ABB’s world-leading technology and its market leadership position in power transmission and distribution with Fluor’s expertise and experience in delivering large EPC projects, the partnership will help meet the evolving need of power grids across the globe for safe, reliable and state-of-the-art electrical substations, said the company in a statement.
“We are proud to partner with Fluor to tap the vast opportunities of the ongoing Energy Revolution and related power infrastructure investments. Together, we intend to grow our businesses by complementing each other’s strengths in unique customer services for substation projects,” remarked ABB chief executive Ulrich Spiesshofer.
“Strategic partnerships like this are a core pillar of our Next Level strategy and help us to drive growth while mitigating risk,” he stated.
Spiesshofer pointed out that substations are key elements in power grid infrastructure that facilitate the efficient transmission and distribution of electricity.
They control and protect power flows, connect power stations to the grid and link transmission and distribution networks as well as end consumers, he noted.
On the strategic tieup, David Seaton, the chairman and chief executive of Fluor, said: "Our new global strategic partnership with ABB targeting the substation market is expected to bring unique synergies to our power clients."
"This approach exemplifies our focus on addressing client needs with our unique integrated solutions offering," he added.
ABB is a world leader in air-insulated, gas-insulated and hybrid substations with voltage levels up to 1,200 kV. These substations facilitate the efficient and reliable transmission and distribution of electricity with minimum environmental impact.
They serve utility, industry and commercial customers as well as sectors including railways, urban transportation and renewables.
“This global partnership with Fluor reinforces our strategic focus on developing new business models as we continue to transform our business to generate enhanced customer value,” said Claudio Facchin, the president of the Power Grids division.