ABB and SNC-Lavalin have signed an agreement to form a joint venture for the execution of engineering, procurement and construction (EPC) projects for electrical substations.
Zurich/Switzerland — SNC-Lavalin will have majority and controlling interest in the JV. By combining ABB’s technology and its market position in power transmission and distribution with SNC-Lavalin’s strengths in delivering infrastructure projects, the joint venture intends to meet the evolving need of power grids across the globe for safe, reliable and state-of-the-art electrical substations.
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.
"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.”