Peab will build a new plant in Ludvika for the production of large power transformers and shunt reactors. The new plant is an expansion of Hitachi Energy's operations in Ludvika and will be integrated with an existing production facility. The surface area of the new plant will be 20,400 m2 and comprise a factory, offices and locker rooms.

"We're very proud to be part of Hitachi Energy's important work in shaping tomorrow's energy solutions. The plant in Ludvika is a unique project where Peab will be able to contribute a great deal through our expertise and perspective as the Nordic Community Builder," says Stefan Danielsson, Business Area Manager Construction at Peab.

The state-of-the-art plant will create fundaments for sustainable and innovative manufacturing technology.

"This is the single largest investment at Hitachi Energy in Sweden which we're now going to realize and it has been essential to find the right construction partner. We're therefore very pleased that Peab will be building our new, ultra modern plant together with us," says Thomas Wennberg, Plant Manager, Power Transformers Hitachi Energy.

This construction contract was preceded by a so-called phase 1 contract whereby Peab is contracted to work with the customer to optimize the project with the right quality and manage risks and uncertainties. The project is now entering phase 2, which entails signing a construction contract.

The project is a turnkey contract in partnering. The work starts in June 2025 and is expected to be completed in August 2027.

The project will be order registered in the second quarter 2025.

Illustration: Hitachi Energy

For further information, please contact:

Juha Hartomaa, Head of Investor Relations Peab, +46 72 533 31 45