Hyosung Heavy Industries announced on November 4th that it had secured a contract to supply ultra-high voltage electrical equipment to Ørsted, the world's largest offshore wind energy company.
Under the agreement, Hyosung Heavy Industries will provide 400 kV ultra-high voltage transformers and reactors for the Hornsea 4 offshore wind farm project in the UK by 2027. The project, located off the coast of Yorkshire in northeastern England, will have a capacity of 2.4 GW.
With this latest contract, Hyosung Heavy Industries has exceeded 1 trillion won in orders for electrical equipment in Europe this year. The company previously secured a large order for phase-shifting transformers from the UK's National Grid earlier this year and a contract for ultra-high voltage transformers from Norway's state-owned power company in July. Additionally, Hyosung Heavy Industries has won orders for circuit breakers in Iceland and Sweden.
The growing demand for electricity transmission infrastructure in Europe, driven by the expansion of renewable energy and the increasing demand for electricity from industries like artificial intelligence, has led to increased investment in power grids.
Hyosung Heavy Industries has also been investing in research and development, with its newly established R&D center in the Netherlands successfully developing eco-friendly circuit breakers. Furthermore, to meet the growing global demand for power grids, the company plans to expand its production capacity for ultra-high voltage transformers at its Memphis, USA, and Changwon, South Korea, plants by over 40% by 2026.
Hyosung Group Chairman Hyun Joon Cho stated, "Our success in securing orders for electrical equipment in Europe is a testament to our commitment to listening to our customers. We will continue to listen to the voices of our global customers and strengthen our position in the global power market."
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