[Alpha Biz= Reporter Kim Jisun] Hyosung Heavy Industries has achieved over 1 trillion KRW in orders for power equipment in Europe this year, including transformers and other high-voltage devices. The company announced on the 4th that it signed a 2.9 trillion KRW contract with Denmark’s Ørsted, the world’s largest offshore wind company, to supply ultra-high voltage equipment.
Under the agreement, Hyosung Heavy Industries will deliver 400kV ultra-high voltage transformers and reactors (power quality improvement devices) for the UK’s Hornsea 4 offshore wind project by 2027. This project aims to establish a 2.4GW offshore wind farm near the Yorkshire coast in northeastern England. Transformers are crucial in adjusting voltage levels to transmit electricity from power plants to homes and factories.
With this contract, Hyosung Heavy Industries has secured orders worth 1.1 trillion KRW in Europe this year alone, which is approximately 25.6% of its total revenue of 4.3 trillion KRW from the previous year. Earlier this year, the company also won a major order for phase-shifting transformers for the UK’s National Grid and, in July, signed a contract with Norway’s state-owned power company to supply ultra-high voltage transformers. Additionally, Hyosung has supplied circuit breakers to Iceland and Sweden.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
