HD Hyundai Electric Supplies Transformers to Silicon Valley, USA... Worth 78.2 Billion KRW

Contracted as 9th Supplier with Santa Clara City Power Authority
U.S. Power Grid Modernization Plan... Expecting Additional Orders

HD Hyundai Electric, a subsidiary of HD Hyundai specializing in power equipment and energy solutions, is participating in the power grid modernization project in Silicon Valley, USA.

HD Hyundai Electric announced on the 1st that it recently signed a supply contract with the Santa Clara City Power Department in California for nine power transformers worth a total of 78.2 billion KRW.

The transformers ordered this time will be used for the expansion of substations in Santa Clara, the heart of Silicon Valley, a region densely populated with global IT companies. HD Hyundai Electric plans to deliver ultra-high voltage transformers of 230kV and 115kV classes by August 2026.

The Santa Clara City Council has established a plan to invest 400 million USD over the next 10 years to replace aging power grids and gradually expand new substations, promoting the fourth largest publicly led power generation project in the United States.

The Biden administration announced a plan to invest a budget of 73 billion USD in transmission and power grid modernization projects through the Infrastructure Investment and Jobs Act (IIJA) in 2021.

Power transformer of HD Hyundai Electric
Photo by HD Hyundai Electric

An official from HD Hyundai Electric said, "Through this order, we have joined the power grid modernization project of the local government in the United States," adding, "We will actively participate in public project bids in the future and further expand orders in the North American market."

HD Hyundai Electric has also continued to secure large orders in the Middle East market by consecutively signing supply contracts worth a total of 300 billion KRW for power equipment including ultra-high voltage transformers in Saudi Arabia over the past three months.

HD Hyundai Electric raised its annual order target twice in April and July. By the third quarter of this year, it achieved total orders worth 2.705 billion USD, reaching about 85% of the annual order target of 3.186 billion USD.