ZURICH (dpa-AFX) - ABB Ltd (ABBN.SW) on Monday announced plans to invest around $200 million over the next three years to expand its medium-voltage manufacturing capabilities across Europe, aiming to meet rising demand from utilities, industry and data centers modernizing their power infrastructure.
As part of the plan, ABB will build a new $100 million facility in Dalmine, Italy, to increase production of air-insulated and SF6-free switchgear and breakers.
ABB will also invest another $100 million to expand manufacturing capacity at facilities in Bulgaria, Finland, Germany, Norway, and Poland. The company said the projects will scale production of technologies including gas-insulated switchgear, vacuum interrupters and relays to support more reliable and resilient power distribution.
The program builds on ABB's earlier investments of about $15 million in Hungary and around $35 million in the United Kingdom.
According to the International Energy Agency, electricity's share of final energy consumption is expected to rise from about 20% today to nearly 30% by 2030.
'This $200 million investment will strengthen ABB's medium-voltage manufacturing and technology capabilities in Europe and support customers as electricity demand increases and the grid evolves,' said Morten Wierod, ABB's Chief Executive Officer.
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