Hitachi Energy, Equinor Sign Strategic Collaboration Agreement

Hitachi Energy, a leading energy transition technology, signed a strategic collaboration agreement with Equinor, a Norwegian state-owned multinational energy company. With the deal, the companies aim to foster participation in electrification initiatives, renewable energy power production and lower carbon emissions worldwide.

In addition, the accord highlights the commitment of both companies to accelerate the energy transition and move toward a safer, more sustainable and flexible energy system. Moreover, it reaffirms a decades-long and profitable collaboration between the players.

During this time, Hitachi Energy has provided Equinor electrical network solutions and pioneering technologies for various projects which include Dogger Bank A,B and C, the biggest offshore wind park in the world, and Troll A, the first high-voltage offshore direct current (HVDC) energy connection.

The main collaboration areas include the development of standardized base designs HVDC and alternating current (AC) transmission systems to connect offshore wind farms and Equinor production facilities to mainland power grids.

“We are delighted to deepen our longstanding relationship with one of the world’s leading energy companies and to help Equinor achieve its ambition of becoming net zero by mid-century,” said Niklas Persson, Managing Director, Hitachi Energy’s Grid Integration business. “Together we make a strong team that will support the society to reach the goal of the Paris Agreement and create a sustainable energy future for all,” he added.

Moreover, Equinor said that Hitachi Energy has been a reliable supplier for many years and that this collaboration agreement is a sign of joint ambitions to increase the company’s competitiveness in the ongoing energy transition. Geir Tungesvik, Executive Vice President for Projects, Drilling and Procurement, Equinor, added that the standardization of technical solutions will be key to success.

Andres Friedman, CEO and President, Solfium, wrote for MBN that the transition toward renewable energy is still in its preliminary stages. For 2022, projections indicate an 8 percent increase in renewable capacity, with solar as the leading source, offering just a glimpse of the market share that remains to be covered for the future of clean energy development. However, according to the IEA, current investment in renewable power projects is insufficient for the aggressive targets set at COP26 to achieve net zero. Moreover, the recovery of the post-pandemic economy has resulted in a 4 percent increase in energy demand, which has been fulfilled by fossil fuels. To satisfy the growing demand sustainably, large players in the global economy, both in the public and private sectors, need to allocate more funds to renewable energy.