HD Hyundai Electric enters Europe’s data center market

(HD Hyundai Electric)

HD Hyundai Electric Co., a power equipment and energy solutions unit of HD Hyundai, said on Sunday that it signed a memorandum of understanding (MOU) with Norway’s Bulk Infrastructure to collaborate on the supply of power equipment for European data centers.

Under the agreement, HD Hyundai Electric will be able to participate in bidding for power equipment contracts in Bulk Infrastructure’s ongoing data center construction projects.

The two companies also plan to strengthen cooperation to win contracts for eco-friendly high-voltage circuit breakers.

Founded in 2006, Bulk Infrastructure operates a total of five data centers across Norway and Denmark.

Last year, HD Hyundai Electric signed a contract to supply ultra-high voltage transformers to Bulk Infrastructure’s large-scale data center in Vennesla, Norway.

According to a report published in 2024 by the International Energy Agency, Europe’s data center power consumption reached 70 terawatt-hours last year, making it one of the top three global regions for data center electricity usage alongside the United States and China.

The IEA also projected that global data center electricity consumption would increase by an average of 15 percent annually from 2024 to 2030 – more than four times the expected growth rate of overall power consumption during the same period.

“Securing a foothold in the European data center market brings us one step closer to expanding our market share in the region,” said Yang Jae-cheol, executive vice president and head of power sales at HD Hyundai Electric. “We will focus on developing eco-friendly power equipment tailored to the European market, leveraging our research centers in countries like Switzerland and Hungary.”