Swiss Giant Readies To Conquer Battery Storage World Market
ABB prepares for the lead role in the battery storage scene, focusing on energy storage and micro grid projects while bowing out of EPC initiatives along the way.
ABB is a global giant recognized by the utility and industry sector for its electronics and power storage for grid, EV, and marine applications.
This week, Chief Operating Officer Ulrich Spiesshofer revealed the company’s plan to position itself as the leader in battery storage systems. He said that micro grids, nano grids, and energy storage will take center stage as the company charts its course towards this goal.
The strategy is partly rooted on the growing market for micro as well as nano grids. He said that the company is also poised for this expected growth, eyeing regions like Africa and India for related projects.
It has recently teamed up with Chinese firm BYD Co. Ltd., banking on the latter’s expertise in battery technology to help it develop efficient storage solutions.
A year ago, it also bought Power One, a U.S. company known for its string inverter products. The acquisition enabled ABB to position itself as the world’s second biggest provider of frequency inverters.
Meanwhile, plans to bow out of its distressed solar EPC business is already underway.
Taken as a whole, ABB’s recent partnership, acquisition, exit strategy, and other initiatives will help it land the dominant role it desires in the energy storage scene.
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