On December 5, 2024, Hyosung HICO hosted an event at its Memphis manufacturing facility to commemorate the completion of eight transformers within the fourth quarter of 2024 for Silicon Ranch a major independent power producer specializing in solar energy and battery storage. The event included a tour of the 360,000-square-foot facility and presentations by leaders from both companies, with representatives from the Tennessee Chamber of Commerce in attendance.

 

The transformers, manufactured entirely in Memphis, will be deployed in Tennessee to support energy distribution and renewable energy initiatives. Together, they have a combined capacity of 1447 MVA, with 807MVA supporting solar power generation within Tennessee. The event showcased the facility's production capabilities and its role in Tennessee's energy infrastructure.

Hyosung HICO's Memphis plant, which opened in February 2020, is the company's first U.S. manufacturing facility. The facility specializes in producing core form power transformers with capacities up to 1,000 MVA, and is the only facility in the US that produces power transformers up to and including 765kV.

Jason Neal, Senior Executive VP of HICO and President of Hyosung HICO, reflected on the plant's development:"When we decided to build a factory in the US, finding this facility and workforce in Memphis was a dream come true."

Since its opening, the facility has grown significantly, employing nearly four times the number of people it started with in 2020.

Silicon Ranch, which operates multiple solar energy projects in Tennessee and across the Southeast, emphasized the importance of the partnership with Hyosung HICO. 

Matt Kisber, Co-founder and Chairman of Silicon Ranch, noted during his remarks:"Transforming energy is essential to getting it onto the grid. Our relationship with HICO is vital, and we're excited to continue expanding it."

The partnership has contributed to the development of renewable energy projects in the region, highlighting the interconnectedness of manufacturing, energy distribution, and economic growth.

Memphis was chosen as the location for Hyosung HICO's U.S. manufacturing operations due to its central position, access to transportation networks, and strong talent pool. The facility serves projects nationwide, supporting various energy initiatives, including renewable energy, transmission, data center expansion, and electric vehicle infrastructure.