ZURICH, SWITZERLAND, Jun 24, 2021 - (JCN Newswire) - Hitachi ABB Power Grids announced today it has signed a memorandum of understanding with BW Ideol, a global leader and internationally recognized pioneer in floating offshore wind. The agreement relates to the global acceleration of delivering a market-ready floating substation offering and solution.

A BW Ideol offshore platform

Floating offshore wind is the next big frontier in offshore wind power. Installed capacity of floating offshore wind installations is forecast to grow from a modest 66 MW in 2019 to at least 6.2 GW in 2030(1) as more and more countries in Europe, Asia and North America seek to harness the rich potential of deep-water wind resources.

This requires commercial-scale floating offshore wind farms comprising high-capacity wind turbines and standardized, scalable floating substations that make the develop- ment and operation of the installations viable and profitable.(2)

The collaboration between the two companies, a first of its kind for floating substations globally, will accelerate the process. Hitachi ABB Power Grids will provide modular, scalable, compact substation packages for installation on BW Ideol's shallow-draft floating platforms. Both companies have worked closely together for several years now to co-create a standardized yet modular solution that addresses market requirements and the unique demands of operating in the most challenging environmental and sea-bed conditions. The substations will comprise transformers, switchgear and other high-voltage products specially developed by Hitachi ABB Power Grids for floating offshore platforms.

"We are delighted to be partnering BW Ideol to provide a single solution that helps offshore wind power developers and independent power producers enter deeper waters," says Alfredo Parres, Head of Renewables at Hitachi ABB Power Grids. "Our pioneering modular, scalable substations use proven technologies to make possible this leap into floating renewable energy."

"We are accelerating the delivery of a market-ready floating substation offering and solution via this unique collaboration," says Paul de la Gueriviere, Chief Executive Officer of BW Ideol. "It brings together two market and technology leaders to create a standardized and scalable solution for all floating offshore wind power requirements. Supported by the solid offshore experience of our strategic investor BW Offshore, the collaboration will be able to deliver fully integrated technical and financial solutions."

This game-changing innovation reinforces Hitachi ABB Power Grids' commitment to supporting the offshore energy towards a carbon-neutral future. On 4 June, Hitachi ABB Power Grids launched a portfolio of transformer products for offshore floating applications, designed to overcome the challenging offshore environment and withstand the physically demanding conditions on floating structures. The portfolio will enable much greater volumes of wind to be efficiently harvested and integrated into the global energy system, directly supporting the transition to a sustainable energy future.

Hitachi ABB Power Grids is the world's leading supplier of grid integration and power quality solutions for a broad spectrum of applications, including utilities, process industries, data centers, solar photovoltaic, wind power and transportation.

(1) Global Wind Energy Council - Global Offshore Wind Report 2020 (https://gwec.net/global-offshore-wind-report- 2020/).(2) Substations are an essential part of offshore wind farm infrastructure. The power is transmitted by cable from each wind turbine to the offshore substation where it is stepped up to a higher voltage and transferred safely and reliably to the onshore power grid.

About Hitachi ABB Power Grids Ltd.

Hitachi ABB Power Grids is a global technology leader with a combined heritage of almost 250 years, employing around 36,000 people in 90 countries. Headquartered in Switzerland, the business serves utility, industry and infrastructure customers across the value chain, and emerging areas like sustainable mobility, smart cities, energy stor- age and data centers. With a proven track record, global footprint and unparalleled installed base, Hitachi ABB Power Grids balances social, environmental and economic values. It is committed to powering good for a sustainable energy future, with pioneer- ing and digital technologies, as the partner of choice for enabling a stronger, smarter and greener grid. https://www.hitachiabb-powergrids.com.

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