Seoul: HD Hyundai Electric Co. announced a significant achievement on Monday, having secured a 279 billion-won (US$200.4 million) contract to supply ultra high-voltage transformers to a client based in the United States. This deal stands as the largest contract in the history of the company.
According to Yonhap News Agency, HD Hyundai Electric is set to deliver 24 units of 765 kilovolt (kV) transformers by 2029. These transformers are designed to transmit power at higher voltages than the conventional 345 kV units, effectively reducing power loss and boosting transmission capacity by up to five times.
The company highlighted the increasing demand for large-scale equipment in the U.S., driven by the country's expansive land area and the growing electricity consumption associated with the expansion of artificial intelligence (AI) industries. In response to this surge in demand, HD Hyundai Electric has announced plans to expand its Alabama plant by 2027 to enhance local production capacity.
A company official noted that this contract would not only strengthen HD Hyundai Electric's position in the North American market but also open doors for future orders.