In Short : Global electricity demand is projected to grow rapidly through 2030, driven by electrification, digitalisation, electric vehicles, and clean energy transitions. This growth highlights the urgent need for large-scale investments in power grids, energy storage, and system flexibility to ensure reliable supply, integrate renewables, prevent bottlenecks, and support sustainable economic development worldwide. In […]
Hitachi ABB Power Grids to Deploy 90 MW Battery Storage System at Finnish Nuclear Plant
A grid-scale battery storage system will be built at the site of a nuclear power plant in Finland, providing backup in the event of disruption to grid supply. Finnish power company Teollisuuden Voima (TVO) operates and owns two nuclear power stations on the island of Olkiluoto which supply about one-sixth of Finland’s energy consumption and […]
Assessing the value of battery energy storage in future power grids
Storage value increases as variable renewable energy supplies an increasing share of electricity, but storage cost declines are needed to realize full potential. In the transition to a decarbonized electric power system, variable renewable energy (VRE) resources such as wind and solar photovoltaics play a vital role due to their availability, scalability, and affordability. However, […]
ABB completed acquisition of Chinese EV charging provider Chargedot
ABB has completed its acquisition of a majority stake in Chargedot Shanghai New Energy Technology Co., Ltd. (“Chargedot”). The transaction was announced on October 28, 2019. Since its establishment in 2009, Shanghai-based Chargedot has made a significant contribution to the uptake of electric vehicles in China. The company supplies AC and DC charging stations, as […]
