Petrofac and Hitachi Energy Announced Second Project in Support of Tennet?S 2Gw Programme
December 20, 2023 at 02:05 am EST
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Petrofac and Hitachi Energy announced the award of the second project under the USD 14 billion, multi-year Framework Agreement with TenneT - the Dutch- German Transmission System Operator - to expand offshore wind capacity in the North Sea. In an initial announcement earlier this year, Petrofac and Hitachi Energy reported the award of the six-project Framework Agreement. Under this landmark agreement, Petrofac will undertake the engineering, procurement, construction, and installation (EPCI) of offshore platforms and elements of the onshore converter stations while Hitachi Energy will supply its HVDC converter stations, which convert AC to DC power offshore and DC to AC onshore.
The Group remains in active discussion with credit providers and its clients to secure the guarantees required for other new contracts in its portfolio.
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).
HITACHI, LTD. 
