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News

ABB in consortium to run South Australia's power transmission network

ABB Automation Technologies : 20 September, 2000  (Company News)
Global technology group ABB said today it is part of a consortium selected by the State of South Australia to operate and maintain a high-voltage power transmission network in the State under a long-term lease agreement.
Global technology group ABB said today it is part of a consortium selected by the State of South Australia to operate and maintain a high-voltage power transmission network in the State under a long-term lease agreement.

The consortium members are ABB, Queensland Electricity and Transmission Company (operating as Powerlink), and Macquarie Bank Limited. The consortium will operate and maintain the power transmission network, including some 5,500 kilometers of transmission lines, under the existing ElectraNet name. ABB said it is a 19.5 percent owner of ElectraNet SA, corresponding to an equity investment of US$ 10 million. The transmission system is the last electricity asset to be privatized in South Australia.

ABB said the consortium will form a new operating company to be called Transmission Asset Management and Services Co. TAMSco will take on an eight-year operation and maintenance contract, with an option to extend the contract another five years. ABB added it expects to see both a good return on its investment as well as sales of equipment and services from it Power Transmission and Power Distribution segments. ElectraNet expects to invest more that US$ 100 million to expand and upgrade the network over the next four to five years in areas related to ABB's businesses.
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