Swiss engineering group ABB has won an order worth USD 1 billion, its largest ever, to supply a power link connecting wind farms in the North Sea to the German grid. The link will be able to supply more than 1.5 million households with clean wind-generated electricity.
ABB said that the network, which will become operational in 2015, will help to avoid more than 3 million tonnes of carbon dioxide emissions per year.
ABB, whose products are used by oil, gas and utilities companies, is banking on rising interest in green technology as governments replace ageing power networks and turn away from nuclear power as high oil prices drive demand for power saving technologies.
In March ABB took a stake in German alternative energy firm Novatec Solar.
Sourced from ET