[Alpha Biz= Reporter Kim Jisun] On the 8th, Hyosung Heavy Industries announced that it has signed a contract to supply 420 kV ultra-high voltage transformers worth a total of 330 billion KRW to Statnett, the Norwegian state-owned transmission authority.
Out of this, a contract for 304 billion KRW was signed on the 5th, as disclosed. Options included in the contract that are not yet effective will become effective next year.
The transformers supplied under this contract will be used to expand Norway's renewable energy power grid and replace outdated equipment. The supply will proceed sequentially until 2029.
With this order, Hyosung Heavy Industries will achieve an 80% market share in Norway's ultra-high voltage transformer market. This is the largest order volume since entering the Norwegian market in 2020.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
