U.S. Markets closed

ABB's South African Project

Zacks Equity Research

ABB Ltd (ABB) recently received an order to supply electrical and control systems for a new 75 megawatt (MW) photovoltaic (:PV) power plant located at Kathu in the Northern Cape province of South Africa. The order is worth approximately $25 million and is booked in the first quarter.

The new 75 megawatt (MW) photovoltaic (:PV) power plant is located in the Kalahari Desert close to the town of Kathu and to Sishen. These towns are one of the largest open-pit iron ore mines in the world.

The photovoltaic power plant project in Kathu is one of the first projects awarded under South Africa’s renewable energy program. This project intends to expand the country’s power components to reduce the carbon footprint. The project is expected to complete by 2014 and it is expected to have a capacity of 146 gigawatt of clean solar power. The plant is owned by WBHO, one of the leading construction companies in South Africa and Building Energy, an Italian renewable energy developer and operator.   

In addition, ABB will also deliver an advanced tracking system with a back-tracking algorithm that optimizes tracker movement and removes shadow on the panels. The solution to be provided by ABB will also contain a data-collection system that collects operational input from the trackers, inverters, string boxes and substation to facilitate remote operation and maintenance, thereby optimizing the need for onsite manning.

Based in Zurich, Switzerland, ABB Ltd. is a power and automation technology company and currently has a Zacks Rank #3 (Hold). Some other players in the same industry, which can be considered at the moment are Chicago Bridge & Iron (CBI), Orion Marine Group Inc. (ORN) and Honeywell International (HON) which have a Zacks Rank #2 (Buy).

Read the Full Research Report on ABB

Read the Full Research Report on HON

Read the Full Research Report on CBI

Read the Full Research Report on ORN

Zacks Investment Research

More From Zacks.com