Over 200 Billion Won in Orders in Just Two Months (August?September)
Participation in Ultra-High Voltage Transmission Projects in Southern and Eastern U.S.
The Only 765kV Transformer Production Base in the United States
Hyosung Heavy Industries is expanding its presence in the U.S. ultra-high voltage power transmission market. By supplying key power equipment such as 765kV ultra-high voltage transformers and 800kV circuit breakers as a package, the company became the first Korean firm to provide a 'total solution' to the U.S. 765kV transmission grid.
On September 19, Hyosung Heavy Industries announced that it had recently signed a contract with the largest transmission grid operator in the United States. The company will supply 29 units of 765kV transformers and reactors, as well as 24 units of 800kV circuit breakers. In just the past two months, from last month to this month, the order volume has exceeded 200 billion won. This equipment will be used in new ultra-high voltage transmission projects in the southern and eastern regions of the United States.
765kV Ultra-High Voltage Transformer by Hyosung Heavy Industries Installed in the U.S. Power Grid. Hyosung Heavy Industries
The company analyzed that, due to the proliferation of data centers and the increase in electric vehicles, power demand in the United States is expected to rise by 25% over the next decade. As a result, the 765kV transmission grid, which can reduce losses and transmit large-capacity electricity over long distances compared to existing 345kV and 500kV grids, is emerging as a solution. The Memphis plant of Hyosung Heavy Industries is the only facility in the U.S. capable of designing and manufacturing 765kV ultra-high voltage transformers domestically.
The 765kV transformer is a highly advanced power device that only about a dozen companies worldwide are able to manufacture. Hyosung Heavy Industries enhanced its local production competitiveness by transferring the quality control and technical expertise of its Changwon plant in South Gyeongsang Province. The company has already supplied nearly half of the 765kV transformers installed in the United States.
Woo Taehee, CEO of Hyosung Heavy Industries, stated, "Hyosung can provide a total solution encompassing not only ultra-high voltage transformers but also circuit breakers, STATCOM, and various other power facilities," adding, "We will further solidify our unrivaled position in the U.S. ultra-high voltage transmission market."
Cho Hyunjoon, Chairman of Hyosung Group, has invested a total of 150 million dollars (approximately 207.1 billion won) in the Memphis plant to date. The company plans to double its production capacity by expanding testing and production facilities by 2026. He said, "Securing differentiated competitiveness is essential for Hyosung Heavy Industries to proactively respond to the growing global power demand."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
