At the beginning of the year, Hyosung Heavy Industries embarked on a significant phase-shifting transformer project for National Grid, marking the start of a series of successful order acquisitions. The company announced on Nov. 4 that it had signed a contract to supply ultra-high voltage power equipment with Denmark’s Orsted, the world’s largest offshore wind power company. This contract, signed on Nov. 1, is part of the UK’s ambitious Hornsea 4 Offshore Wind Project, which aims to construct an offshore wind farm with a power capacity of 2.4 gigawatts (GW) near the coast of Yorkshire in northeastern England by 2027.
Hyosung Heavy Industries will supply 400-kilovolt (kV) ultra-high voltage transformers and reactors, essential components for improving power quality, for the Hornsea 4 project. This latest contract adds to the company’s impressive track record in Europe, where it has secured over 1 trillion won in orders this year alone. The company’s success in Europe is attributed to its technological prowess and customer-tailored strategies, which have earned it a reputation for quality and reliability since it entered the European market in 2010.
In July, Hyosung Heavy Industries signed a contract for ultra-high voltage transformers with Norway’s state-owned power company, further solidifying its presence in the European market. The company has also secured contracts to export circuit breakers to Iceland and Sweden, maintaining the No. 1 market share in the 400kV transformer market for transmission power companies in the UK, Scotland, and Norway.
Cho Hyun-joon, chairman of Hyosung, emphasized the importance of customer feedback in the company’s success. “The success in securing power equipment orders in Europe is the result of voice of customer (VOC) management,” he stated. “We will continue to listen to the voices of customers not only in Europe but also worldwide to further strengthen our position in the global power market.”
Hyosung Heavy Industries is not only receiving love calls for ultra-high voltage power equipment orders in Europe but also in North America, the Middle East, Asia, and Oceania. To meet the rapidly increasing global demand for power grids, the company plans to expand its ultra-high voltage transformer plants in Memphis, USA, and Changwon, South Gyeongsang Province, aiming to increase production capacity by more than 40% compared to the current capacity.
The Hornsea 4 Offshore Wind Project is a significant part of the European Union’s commitment to reducing carbon emissions and increasing renewable energy capacity. The project’s success will contribute to the region’s energy sustainability goals and support the global shift towards green energy. Hyosung Heavy Industries’ involvement in such a high-profile project underscores its critical role in the renewable energy sector and its ability to deliver advanced power equipment that meets the stringent demands of modern power grids.
Source:Business Korea
