Hyosung Secures Orsted Contract for UK’s Hornsea 4 Offshore Wind Project
Hyosung Heavy Industries has signed a contract with Orsted to supply ultra-high voltage transformers and reactors for the Hornsea 4 Offshore Wind Project in the United Kingdom. The project, located near Yorkshire's northeastern coast, aims to develop a 2.4 GW offshore wind farm by 2027. This new agreement, valued at over $740 million USD in orders, follows Hyosung's ongoing success in Europe, where it has consistently expanded its market share in high-voltage equipment.
The company's contributions to the Hornsea 4 project are crucial for improving power quality across the UK's renewable energy grid. Since entering the European market in 2010, Hyosung Heavy Industries has solidified its position through a strategy focused on technological excellence and customer feedback. In addition to this UK contract, Hyosung recently secured orders for high-voltage transformers in Norway and circuit breakers in Iceland and Sweden.
Cho Hyun-joon, chairman of Hyosung, credits the company's European success to its commitment to customer needs, or "voice of customer" management. With plans to expand production capacity by over 40% at its plants in Memphis, USA, and Changwon, South Korea, Hyosung Heavy Industries is well-positioned to support rising global demand for renewable energy infrastructure.
The Hornsea 4 project aligns with the European Union's sustainability goals, enhancing Hyosung's role as a leader in the power equipment industry and contributor to the global shift toward green energy.
Source: businesskorea.co.kr
