Justice Sirikah

ABB Ltd (NYSE: ABB) Contracted To Upgrade Power Transmission System in California

by Justice Sirikah January 5, 2009

 The share price of ABB Ltd. (NYSE: ABB) slid by 2.75 percent in Monday’s morning trade, concurrently with the news that the company could be adding another high-voltage direct current (HVDC) system project to its revered portfolio. The company is reported to have been nominated by Intermountain Power Agency (IPA) and Los Angeles Department of Water and Power (LADWP), to upgrade the power transmission network in Los Angeles, California, in an $87 million high-profile contract.4abb_logo.png

  The main objective is to re-capacitate the 22-year-old intermountain Power Project Southern Transmission System (IPP STS) by 25 percent up to 2 400 megawatts sooner than 2010, through the use of more renewable sources. LADWP has already pledged to deliver 20 percent of power to its customers from non-carbonaceous sources before the end of the first decade of the new millennium.

  Peter Leupp, head of the Power Systems Division at ABB said the leading power and automation technology group “is proud to be a part of this project which is very much in line with our focus on increasing energy efficiency and leveraging the power of renewable”.
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  The expansion and fortification of the HVDC will result in the least amount of interruption to current LADWP services for almost 3.8 million residents, since it will be 3 quarters of the entire system’s capacity that will be attended to during the project. It will cost ABB a high-tech control and protection system, MACH2, efficient cooling systems for the valves that convert the power current from AC to DC and reverse, as well as supplementary AC filters to enhance the superiority of the power supply.

  ABB has come of age in high-efficiency technology, having completed over 60 HVDC projects worldwide, with an overall  transmission capability in excess of 48 000 megawatts (MW). During the morning’s trading session, its share price was swaying between 2.75% and 1.84% down from January 2’s close of $15.25, and wound up closing today at $14.94, down $0.31 or 2.03%9abb_chart.png

Resources:

1. ABB News
2. ABB Ltd. message board on HotStocked

Comments 1

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July 31, 2012, 11:34AM

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