Hyosung Heavy inks high-voltage equipment deal with Ørsted

Hyosung Heavy Industries ultra-high-voltage transformer plant in Memphis. (Hyosung Heavy Industries)

Hyosung Heavy Industries announced on Monday that it signed a high-voltage power equipment supply contract with Denmark’s Ørsted AS, a global leader in offshore wind, on Friday.

Under the agreement, Hyosung Heavy Industries will supply 400 kilovolt (kV) high-voltage transformers and reactors by 2027 for the Hornsea Four project, a 2.4 gigawatt offshore wind farm under construction off the Yorkshire coast in the United Kingdom.

With the latest contract, Hyosung’s European power equipment orders have surpassed 1 trillion won ($730 million) this year.

This contract follows a string of deals for Hyosung, including a large-scale phase shifting transformer project with the U.K.’s National Grid Plc earlier this year.

Hyosung‘s high-capacity, high-voltage transformers have been recognized for their competitive edge, securing the company a leading market share in the 400 kV transformer sector among transmission companies in England, Scotland and Norway.

The European power market is projected to grow at an annual average of 8.6 percent to $57 billion in 2030.

To meet the growing demand, Hyosung plans to expand its high-voltage transformer production facilities in Memphis, the United States, and Changwon, Korea, increasing capacity by more than 40 percent.