Seoul: HD Hyundai Electric Co. announced on Friday that it has secured a contract from SP Energy Networks Ltd., a prominent power company in Scotland, to supply four 400-kilovolt ultra-high voltage transformers. These transformers are slated for installation in the south central region of Scotland as part of an electric substation expansion project, with delivery expected in the latter half of 2028.
According to Yonhap News Agency, this contract signifies HD Hyundai Electric's inaugural entry into the Scottish market. The South Korean company aims to use this opportunity as a foundation to bolster its presence across Europe. Last year, HD Hyundai Electric's orders from Europe amounted to US$437.75 million, reflecting an impressive average annual growth rate of 44 percent since 2020.
An official from HD Hyundai Electric remarked on the competitive nature of the European market, stating, "Europe is a highly conservative and technically demanding market where contracts are won based on product quality and technological capability." The company has plans to enhance its influence in the region by investing in research and development and strengthening its customer networks.