ABB and SNC-Lavalin form joint venture
ABB and SNC-Lavalin have signed an agreement to form a joint venture (JV) for the execution of engineering, procurement and construction (EPC) projects for electrical substations. SNC-Lavalin will have majority and controlling interest in the JV. By combining ABB’s world-leading technology and its market leadership position in power transmission and distribution with SNC-Lavalin’s strengths and in delivering infrastructure projects, the joint venture 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 SNC-Lavalin to tap the vast opportunities of power infrastructure investments. Together, we intend to grow our businesses by complementing each other’s strengths in unique customer services for substation projects,” said Claudio Facchin, President of ABB Power Grids division. “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.