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Strategies & Market Trends : ABB (Asea Brown Boveri) ADR

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From: tech101	5/5/2009 3:23:10 PM
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Power Guys Jonathan Fahey Forbes Magazine dated May 11, 2009 Engineering giant ABB will carry juice from the Three Gorges Dam all the way to Shanghai In the middle of the wind-whipped north sea, British Petroleum is sprucing up a 25-year-old platform that taps one of the world's biggest natural gas fields. BP is ripping out the gas turbines that use some of the methane below to make electricity for the platform. Instead, BP is piping electricity in through an undersea cable from hydroelectric plants on the Norwegian mainland, 180 miles away. It might seem odd for BP to shun the fuel at hand in favor of a long-distance solution. But this is the new economics of carbon--Norway heavily taxes it, and BP wants to be green. The beneficiary in this case: ABB ( ABB - news - people ), the $35 billion Zurich engineering giant that builds the equipment that makes up the innards of an electric grid. Its high-voltage direct current system is delivering electricity to the British Petroleum ( BP - news - people ) platform in the middle of the ocean. More: forbes.com

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