AusNet Secures $300 Million Transformer Deal to Support Victoria’s Energy Transition
AusNet has signed a five-year agreement with Hyosung Heavy Industries to secure the supply of up to 45 large power transformers for Victoria's transmission network. Valued at approximately A$300 million, the contract is intended to strengthen the state's electricity grid, replace ageing infrastructure, and support growing demand as renewable generation continues to expand.
The transformers will be deployed across Victoria's transmission network as AusNet advances projects linked to the state's energy transition. The utility said securing long-term manufacturing capacity has become increasingly important as global demand for large power transformers continues to exceed supply, resulting in extended lead times.
Under the agreement, Hyosung will manufacture and deliver the transformers over the next five years. The deal also strengthens the South Korean manufacturer's position in Australia, where it already supplies transmission equipment in Queensland, New South Wales and South Australia. Hyosung said the agreement makes it the exclusive supplier of extra-high-voltage transformers and reactors for AusNet's transmission network during the contract period.
AusNet stated that the agreement will help secure critical grid equipment needed to connect new renewable energy projects while maintaining reliability across Victoria's transmission system. The utility expects the additional transformer capacity to support network upgrades required as electricity demand increases and more renewable generation is integrated into the grid.
Source: streamlinefeed.co.ke
