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Hyundai Engineering building. (Photo=Hyundai Engineering) |
[Alpha Biz= Reporter Kim Jisun] Hyundai Engineering has secured a solar power project contract worth approximately 2 trillion won in Serbia.
According to the construction industry and local Serbian media on the 15th, Hyundai Engineering, in consortium with its U.S. subsidiary and U.S. solar company UGT Renewables, has won the bid for a large-scale solar power generation project in Serbia.
The project involves constructing a 1.2 GW (gigawatt) solar power plant and an energy storage system, which will be handed over to the Serbian Electric Power Industry. The total contract value is reported to be $1.48 billion, equivalent to around 2 trillion won.
This marks the first instance of a Korean construction company securing a solar power project in Serbia and represents the largest overseas solar project ever awarded to a Korean construction firm.
The Hyundai Engineering consortium had already been selected as the preferred bidder and has been in detailed negotiations, with the official contract expected to be signed as early as the 16th.
Hyundai Engineering CEO Hong Hyun-sung is reported to have departed for Serbia to finalize the contract.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
