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Hyosung Heavy Industries has secured new contracts worth approximately $170 million for extra-high-voltage power equipment across several European markets, the company said on December 22.

The South Korea–based power equipment manufacturer reported winning orders totaling more than 230 billion won this month in the United Kingdom, Sweden, Spain, and Norway, amid rising investment in electricity grid infrastructure driven by Europe’s energy transition.

In the United Kingdom, Hyosung Heavy Industries signed a supply agreement valued at about 120 billion won with Scottish Power Energy Networks, Scotland’s electricity distribution operator. The contract involves the delivery of extra-high-voltage transformers for a large wind power-related project aligned with the country’s net zero policy.

The company also secured an order worth approximately 50 billion won from a major Swedish power distribution company for similar transformer equipment and confirmed an additional contract win in Norway, further expanding its footprint in northern Europe.

In Spain, Hyosung Heavy Industries signed supply contracts worth around 60 billion won with leading power and energy companies to provide transformers and reactors. These agreements mark the company’s first entry into southern European markets.

The company noted that Europe’s extra-high-voltage transformer market is highly competitive and dominated by established global suppliers. It said its recent completion of a short-circuit test for extra-high-voltage transformers, conducted by France’s electricity transmission system operator, has strengthened its technical credentials in the region.

Source: ajupress.com