Under the contract, Hitachi will develop the transformers for the GRDA’s new combined cycle natural gas facility, which is scheduled to be completed in May 2017.
The five transformers will be developed by Hitachi Fortune Transformer, a joint venture between Hitachi and Fortune Electric.
The international market for transformers is expected to increase to approximately $10bn by 2020 from the current level of about $7bn and will be driven by the growth in distributed generation sources that use renewable energy such as wind or photovoltaic power, as well as by economic growth and population increases.
Additionally, the US power transformers value expected to grow to around $2.6bn from its current level of about $2bn in 2020, due to the replacement of the aging equipment, according to GlobalData Transmission Equipment Details.
