Hyosung Heavy Industries secured contracts value 230 billion received for ultra-high voltage energy gear from the UK, Sweden, and Spain this month, the corporate introduced on Dec. 22. The corporate is increasing its presence in Europe, the house of energy infrastructure, with differentiated technological capabilities.
Within the UK, the corporate signed a 120 billion received contract to provide ultra-high voltage transformers with Scottish Energy Power Networks (SPEN), the Scottish energy grid operator. By the merchandise provided on this contract, Hyosung Heavy Industries will help key wind energy era initiatives that assist implement the UK’s carbon neutrality coverage (Web Zero Plan).
Since first getting into the UK market in 2010, Hyosung Heavy Industries has been supplying merchandise for 15 years and has been acknowledged as a complete answer supplier by means of personalized design and different providers. Since 2022, the corporate has held the primary market share within the UK’s ultra-high voltage transformer market.
The corporate additionally succeeded in profitable orders value 50 billion received for ultra-high voltage transformers in Sweden. In Spain, it signed contracts value a complete of 60 billion received to provide transformers and reactors with main energy firms and vitality enterprises. The entry into Spain marks the primary achievement in Southern Europe, enabling Hyosung Heavy Industries to construct an order portfolio spanning all of Europe.
Hyosung Heavy Industries analyzed that it has been profitable in concentrating on the European market with its unparalleled technological capabilities. This yr, the corporate succeeded in short-circuit testing of ultra-high voltage transformers for France’s transmission grid operator, as soon as once more proving its technical reliability. Brief-circuit testing is a stability verification process that evaluates whether or not transformers carry out regular features beneath excessive electrical stress circumstances.
The European energy market is predicted to file steep annual development of greater than 5% to a scale of $6-7 billion by 2030, as vitality transition for carbon neutrality achievement and demand for changing growing old energy grids converge. Specifically, main European nations are accelerating energy infrastructure funding with nationwide vitality transformation objectives, such because the UK’s enlargement of offshore wind capability to 50 gigawatts (GW).
