More power grid replacements for carbon neutrality Contracts signed this month in the UK, Sweden, Spain and beyond
Newsis
Hyosung Heavy Industries announced on the 22nd that since the beginning of this month it has won orders worth more than KRW 230 billion for ultra-high-voltage power equipment in major European countries including the United Kingdom, Sweden, and Spain. Following the conclusion of a supply contract worth KRW 120 billion with a power grid operator in Scotland, UK, Hyosung Heavy Industries also signed contracts worth hundreds of billions of won with Sweden (KRW 50 billion) and Spain (KRW 60 billion). The successive contracts are being attributed to the company’s efforts to establish medium- to long-term partnerships with conservative local European clients.
Hyosung Heavy Industries plans to use its recent order performance as a springboard to accelerate its push into Europe. The European power market is projected to grow more than 5% annually through 2030, driven by energy transition initiatives aimed at achieving carbon neutrality and demand for replacing aging power grids.
Lee Dong-hun
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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