ABB Software To Boost The National Grid Power Network In US

Switzerland-based technology behemoth ABB Ltd. (NYSE:ABB) recently announced plans to provide innovative software to boost the proficiency of the National Grid (LON:NG) USA power network that serves New York and Massachusetts. In particular, the company has integrated ABB network management system with an outage management software solution that will help the National Grid monitor and supervise distribution infrastructure on a real-time basis and sense signs of possible outages ahead of time.

Additionally, ABB’s software will aid National Grid in dispatching field crew on a timely manner to restore power for the facility’s energy customers across northeastern U.S. The company’s state-of-the art outage management software can perform a host of actions including network analysis, network optimization, outage management and business analytics. This would bolster reliability, slash operational costs and improve customer satiation.

Leveraging on ABB’s software, National Grid will be able now seamlessly play a significant part in New York State’s “Reforming the Energy Vision” initiative that aims at enhancing the competitiveness of renewable energy resources. As a matter of fact, the “Reforming the Energy Vision” goals are in line with ABB’s vision, which is to deploy the company’s software portfolio and utilize Internet of Things, Services and People to help utility companies deliver clean and reliable energy.

ABB kick-started 2016 on an exceptional note, winning multiple renewable energy contracts that will expectedly boost its top line. Some of the noteworthy contracts clinched by the power and automation technology provider during the year include an order worth around $80 million from Rentel NV in Belgium, contracts valued over $300 million for the supply of advanced converter transformers to two long-distance ultra-high-voltage direct current (UHVDC) transmission links, and one to deploy 40 special transformers to equip wind turbines for an offshore wind farm in the Irish Sea, to name a few.

ABB is one of the best managed industrial infrastructure, power and automation companies in the world that stands to benefit from investments made in the upgrade of power infrastructure and its focus on reduction of energy intensity across all end-markets. Going forward, ABB expects to gain from the high investments made in ultra high voltage DC power transmission projects in mature and emerging markets as well as continuing investments in maintenance of aging electric infrastructures. Over the long haul, we expect the company’s three major customers in utilities, industry, and transport & infrastructure to drive growth.

ABB currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same space include Franklin Electric Co., Inc. (NASDAQ:FELE) , Plug Power Inc. (NASDAQ:PLUG) and ESCO Technologies Inc. (NYSE:ESE) , each holding a Zacks Rank #2 (Buy).