Hitachi partners with US to modernize grid
The logo of Hitachi is seen at an office building in Zurich, Switzerland September 10, 2020. Picture taken September 10, 2020. REUTERS/Arnd Wiegmann
LONDON :Hitachi Ltd [6501.T] signed a deal with the U.S. Department of Commerce on Tuesday to promote investment in grid modernization, as the U.S. faces record electricity demand from Big Tech's build-out of artificial intelligence data centers.
U.S. President Donald Trump visited Japan on Tuesday and the two countries agreed to a deal on new-generation nuclear power reactors and rare earths.
Hitachi, headquartered in Tokyo, said its agreement with the U.S. will advance grid modernization and help boost the development of AI in the U.S.
"We have to identify now together with our customers and with the government direct projects where we can actually contribute," Andreas Schierenbeck, chief executive of Hitachi Energy, told Reuters.
Hitachi will explore expanding its energy unit's manufacturing activities, including adding transformer production capacity, the company said.
In September, Hitachi Energy said it planned to invest $1 billion to expand its U.S. power grid infrastructure manufacturing.
