ABB will have a majority shareholding in the new entity, ABB Inocean AB, which will be located in Gothenburg, Sweden. The region has a shipbuilding history and is recognized as a resource base for offshore industry expertise.
The new entity will undertake design, engineering and project management activities, including fabrication supervision of platforms required for offshore wind connections supplied by ABB. The move is aimed at accelerating the buildup of offshore competence to support ABB's growing offshore wind power integration business.
"Offshore wind power is a growing business for us, and this joint venture will further strengthen ABB's competence and expertise in this area," says Martin Gross, head of ABB's Grid Systems business.
ABB is already participating in four large offshore wind connection projects – BorWin 1, DolWin1, Dolwin 2 and Thornton Banks – and the company also manufactures power semiconductors, high-voltage sea and land cables, and AC and DC converter stations, the company notes.