ABB wins US$ 100-million contracts for high-voltage systems for Italy and Greece

Contracts include the first Trans-European Networks project to build a single European energy market

Zurich, Switzerland, July 13, 1998 - ABB, the international engineering company, announced today it has been awarded contracts with a total value of over US$100 million to supply high-voltage systems and equipment for the Italian utility ENEL SpA.

ABB will supply two converter stations for the planned High-Voltage Direct Current (HVDC) power link between Italy and Greece. The stations, each with a power rating of 500 megawatts, will convert electricity from alternating current (AC) into direct current (DC) for transmission through a submarine cable under the Adriatic Sea, between Galatina in southeast Italy and Arachthos in northwest Greece. The stations will also convert the DC power from the cable back into AC for transmission through each country's national electricity grid. The converter stations are scheduled to enter into operation by the end of 2000.
The Italy-Greece electricity interconnection is the first energy project being implemented within the European Union's Trans-European Networks, aimed at developing cross-border infrastructure systems for a single European market. The project is being co-financed by the European Commission and by the European Investment Bank. By sharing power, Italy and Greece will be able to use their total installed power generation and transmission capacity more efficiently. ABB is a leading supplier of HVDC technology that allows electricity to be transmitted over long distances with lower losses and greater flexibility than conventional AC systems.
In a separate contract from ENEL, ABB in a consortium with Digital Equipment will deliver a new energy management system for ENEL's high-voltage power grid. In particular, ABB will deliver the software system for 3 regional interconnected computer-based control centers and remote control equipment to be installed at 245 ENEL plant locations. Existing ENEL plant equipment and a control center already in operation will also be integrated into the new system. Digital Equipment will supply the related hardware and services.
ABB's global Power Transmission and Distribution Segment employs approximately 51,000 people worldwide with orders in 1997 of about US$ 9 billion. The ABB Group employs approximately 213,000 people with orders in 1997 of about US$ 35 billion. (End)

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