Hyosung Heavy Industries signed an 85 billion won ($60 million) contract with Scottish Power to supply 400-kilovolt ultra-high-voltage transformers, the Korean firm announced Monday. The transformers will be used to transmit electricity generated from inland and coastal wind farms in Scotland to urban centers. Scotland, which capitalizes on its abundant wind resources, accounts for roughly one-third of the world’s floating offshore wind farms. The Scottish government is ramping up investments in renewable energy and transmission infrastructure as part of its goal to reach net-zero greenhouse gas emissions by 2045. Since entering the Scottish market in 2015, Hyosung Heavy has positioned itself as a total solutions provider offering products, maintenance and services. The company has been the market leader in the United Kingdom for ultra-high-voltage transformers since 2022. In addition to the U.K., Hyosung recently struck a long-term supply deal with a German transmission company for ultra-high-voltage transformers and reactors, becoming the first Korean firm to do so. The company also secured additional orders this year following its initial long-term supply deal for ultra-high-voltage transformers with a French transmission company last year. Furthermore, it signed a supply deal in Spain, expanding its footprint across Western Europe, a region known as a technology hub with rigorous standards and intense competition among global power equipment manufacturers. Since entering the European market in 2010, Hyosung Heavy has earned a reputation for quality across several countries, including the U.K. and Norway. Notably, a long-term supply contract signed last year with a French company has served as a key reference. Building on these achievements, the company reported orders totaling approximately 10 trillion won as of the first quarter of this year “The consecutive orders in Europe are the result of our technological capabilities and customer-tailored solution strategies. Going forward, we aim to establish ourselves as a core power equipment supplier in the global power market in line with the growth of the AI industry,” Hyosung Group Chairman Cho Hyun-joon said. (ICE SEOUL)

Fonte notizia: The Korea Times