Hyundai E&C Supports Australia's Power Grid Reconstruction

Energy Infrastructure MOU Signed with Australia's Osnet

Hyundai Engineering & Construction announced on September 12 that it has signed a memorandum of understanding (MOU) with Osnet, the electric grid operator in Victoria, Australia, to collaborate on transmission and substation infrastructure and renewable energy projects.

Osnet is the largest local energy network company, providing energy services through the management of electricity and gas transmission networks. Last year, Hyundai Engineering & Construction established a branch office in Sydney, Australia, and signed a business agreement with the government of South Australia for local projects. These efforts were aimed at laying the foundation for entry into the Oceania market.

The Australian government is promoting a national power grid reconstruction project under the name "Rewiring the Nation." Along with large-scale infrastructure investments to enhance the safety and security of the power grid, the government is increasing construction projects related to renewable energy to achieve carbon neutrality. Hyundai Engineering & Construction believes that its design, procurement, and construction (EPC) capabilities in transmission and substation infrastructure and energy, as well as its solid financial competitiveness, will enable multifaceted cooperation in local infrastructure and future energy sectors.

Kim Kyungsoo, Head of Global Business Division at Hyundai Engineering & Construction (left), and Jonathan DeSilva, Head of Infrastructure Development at Osnet Australia, are taking a commemorative photo after the signing ceremony at Hyundai Engineering & Construction headquarters in Seoul. Provided by Hyundai Engineering & Construction

Since its first transmission line project in Saudi Arabia in 1976, Hyundai Engineering & Construction has completed more than 180 transmission and substation projects worldwide over the past 50 years. A company representative said, "If the expertise of Osnet, which has led the operation of large-scale transmission and substation infrastructure in Australia, is combined with Hyundai Engineering & Construction's global experience and technological capabilities, we expect to achieve tangible business results in the near future."