Enedis Renews Deal With ABB To Modernize France's Electricity Networks

(RTTNews) - Distribution system operator Enedis announced a renewed agreement with ABB Ltd (ABBNY.PK) on Wednesday to continue modernizing France's electricity networks. The financial terms of the deal were not disclosed.

The five-year deal, with an option to extend to eight years, expects to reduce greenhouse gas emissions with the help of medium-voltage network infrastructure.

Under the deal, ABB will provide the field-proven SF6-free solution, ensuring the innovation co-developed by both companies can now be deployed at a greater scale to support France's energy transition.

Hervé Champenois, Chief Technical Officer of Enedis, commented, "This renewed agreement with ABB reflects our shared ambition to reduce environmental impact and support the decarbonization of the grid while modernizing and expanding capacity."

Monday, ABB closed trading at $73.30, down 1.72 percent on the OTC Markets.