Hitachi Energy announces $1.5 billion investment to boost global transformer production by 2027
23 April 2024
In a bid to meet the surging global demand for transformers and bolster electrification efforts worldwide, Hitachi Energy unveiled plans to inject over $1.5 billion into ramping up its global transformer manufacturing capacity by 2027. This substantial investment aims to address the long-term needs of customers while creating over 4000 jobs across its expanding operations.
The investment initiative will see capacity expansions across Europe, the Americas, and Asia, leveraging Hitachi Energy's existing global footprint. Notably, a significant portion of the investment, approximately $180 million, will be allocated towards establishing a cutting-edge transformer factory in the Vaasa region of Finland.
Bruno Melles, Managing Director of the Transformers Business at Hitachi Energy, emphasized the company's response to the unprecedented growth in demand for transformers and electrical equipment. Speaking at the Energy & Transformers Days event in Rome, Italy, Melles highlighted Hitachi Energy's dedication to expanding its global footprint, enhancing digitalization, and advancing technology to deliver sustainable and reliable solutions.
The investment announcement comes as part of Hitachi Energy's broader strategy to accelerate the energy transition, complementing the company's ongoing expansion efforts worldwide. Recent expansions include a larger-than-$30 million investment in Bad Honnef, Germany, alongside ongoing and completed projects in locations such as South Boston, Virginia, Jefferson City, Missouri, and Dos Quebradas, Colombia.
