Aggressive Portfolio holding ABB won a large contract to supply and install a portion of the first power link between Norway and Germany.  The project is estimated to cost between $1.7 billion and $2.2 billion, and is expected to be completed by 2019. ABB (NYSE: ABB) will build two onshore converter stations, but its share of the project has not been released.

The high-voltage, direct-current power cable known as NordLink is a 373-mile-long conduit that will supply enough electricity to power more than 600,000 households.

This is welcome news for the company, which has been struggling for business amid lower customer spending due to lower oil prices. ABB, headquartered in Switzerland, is a multinational that specializes in robotics, power and industrial automation. However, ABB says it will continue its policy of steady, sustainable dividend increases. ABB plans to raise its dividend to 0.72 Swiss in francs in 2014 from 0.70 Swiss francs paid in 2013. Currently the dividend yield is 3.7%.

Two weeks ago ABB reported earnings rose 30% to $680 million, but it missed analysts’ estimates of $720 million. In addition to lower oil prices, the company has been hurt by the sluggish global economy and a strong U.S. dollar.

The company reports its finances in dollars, and the dollar has gained more than 10% against the euro and the Swiss franc over the past year and cut about 6% from ABB’s revenues for the fourth quarter.

Due to economic uncertainty, the company declined to provide a forecast for 2015 revenues and earnings for 2015. However, management still sees revenues rising annually by between 4% and 7% to 2020, with profit margins of 11% to 16%. Profit margins were about 13.3% during the 2014 fourth quarter.

Fourth-quarter orders fell 6% to $9.37 billion due to a decline in large orders from its oil and gas companies as they cut capital spending. This caused a revenue drop of 9% to $10.35 billion, missing analysts’ estimates of $10.8 billion.

ABB remains a Buy up to $30 a share.