ABB and Fluor have formed a global strategic partnership for the execution of large turnkey engineering, procurement and construction (EPC) projects for electrical substations, according to a release.
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.
“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,” said ABB CEO Ulrich Spiesshofer. “Strategic partnerships like this are a core pillar of our Next Level strategy and help us to drive growth while mitigating risk.”
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.
“Fluor’s new global strategic partnership with ABB targeting the substation market is expected to bring unique synergies to our Power clients,” said David Seaton, Chairman and CEO of Fluor. “This approach exemplifies our focus on addressing client needs with our unique integrated solutions offering.”
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,” also said Claudio Facchin, president of the Power Grids division.