Hitachi ABB Power Grids is presumably set to meet its 2025 goal while the COVID 19 has affected the market.
The company, with products connecting power stations to factories and houses, is looking for its normal status. This is pretty much due to stimulus packages. It is expected that electricity faces a shift towards green technologies.
Hitachi, with rivals like Siemens SIEGn.DE, General Electric GE.N and Hyundai 267260.KS, will offer its newest finance targets in October.
Claudio Facchin, the chief Executive, said that despite some negative impacts by the COVID 19, we are hopeful about the industry’s future.
According to the estimates by the International Energy Agency, electricity demand across the world is expected to drop 6% this year and wind and solar energy demand is surging 5%.
Affirming this, Facchin added that coronavirus has caused modification from fossil fuels to sustainable energy such as wind and solar.