trending Market Intelligence /marketintelligence/en/news-insights/trending/uOx7E0TSxUwe9icJxQELcg2 content esgSubNav
In This List

SNC-Lavalin, ABB form JV to tap 'vast opportunities' in power sector

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Activity Volumes Across the Equity Capital Markets Dropped Significantly in 2022

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Case Study

A Large Energy Company Manages its Exposure with Robust Tools to Assess Creditworthiness and Set Credit Limits


SNC-Lavalin, ABB form JV to tap 'vast opportunities' in power sector

Montreal-based SNC-Lavalin Group Inc. and Zurich-based ABB Ltd. agreed to form a joint venture to deliver electrical substation projects globally at 66 kV and above, the companies announced Dec. 20.

The joint venture will leverage SNC-Lavalin project management expertise and ABB's substation technology to "tap the vast opportunities of power infrastructure investments," said Claudio Facchin, president of ABB Power Grids division.

SNC-Lavalin will have a majority and controlling stake in the new entity, which is expected to have a backlog of more than $700 million. The joint venture is expected to close in the second quarter of 2018.

The joint venture builds on SNC-Lavalin's new "client-facing structure" announced in November following the completion of the Atkins integration plan. The structure featured the creation of a clean power sector that will incorporate activities in hydro, transmission and distribution, renewables and energy storage.

"This joint venture is a strategic step to build our capabilities in the full lifecycle of renewables, and positions us well in all of our markets, particularly utilities, renewables and transportation," said Marie-Claude Dumas, president of clean power. "The innovative business model will deliver a key differentiated offering across all SNC-Lavalin's sectors, and will create value for our customers by leveraging our combined world-renowned expertise, end-to-end service offering and geographic presence."