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Photo = Hyosung Heavy Industries |
[Alpha Biz= Reporter Kim Jisun] Hyosung Heavy Industries has announced its participation in Australia's renewable energy grid development.
On July 11th, Hyosung Heavy Industries revealed that it has signed a contract worth 350 billion KRW with Powerlink, the electricity company of Queensland, Australia. This agreement marks Hyosung's role as a major supplier for the "Copperstring 2032" project, a transmission network construction project aiming to connect renewable energy produced in Queensland's inland to the eastern coast.
Queensland's government has set a goal to transition over 70% of its total electricity generation to renewable sources by 2032, aligning with the upcoming Brisbane Olympics. The region's abundant sunlight, with over 300 sunny days annually, makes it conducive for solar and other renewable energy production.
Hyosung Heavy Industries has been recognized over the past decade as a comprehensive solution provider in the Australian power market, supplying products and maintenance services. In the previous year, they contributed to the EnergyConnect project, supplying power equipment to connect South Australia and New South Wales, further cementing their involvement in Australia's renewable energy grid expansion.
Additionally, in the same year, Hyosung secured a long-term supply contract for extra-high voltage transformers in New South Wales, solidifying its position as the leading transformer supplier in the Australian transmission market.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
