HD Hyundai Electric wins US transformer order
HD Hyundai Electric & Energy Systems Co. has clinched a major deal to supply extra-high voltage transformers to a California municipal electric utility.
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South Korea, Seoul: HD Hyundai Electric & Energy Systems Co. has clinched a major deal to supply extra-high voltage transformers to a California municipal electric utility.
South Korean electrical equipment maker HD Hyundai Electric & Energy Systems Co. has clinched a 78.2 billion-won ($59.9 million) deal to supply nine extra-high voltage power transformers to the municipal electric utility of Santa Clara in California. HD Hyundai Electric said that the transformers with 230 kV and 115 kV capacities will be delivered to Silicon Valley Power by August 2026.
HD Hyundai Electric, a unit of shipbuilding, oil refining and machinery conglomerate HD Hyundai, said the devices will be used in expanding substations in Santa Clara. The city council of Santa Clara has decided to invest $4 million over the next 10 years to upgrade its aged power grid and gradually expand new substations, which is the fourth-largest public infrastructure project in the United States.
HD Hyundai Electric also said that it is hoping to secure additional contracts in America as the Biden administration announced a plan in 2021 to invest around $73 billion to modernize the country’s electricity grid. In the first nine months of this year, the company bagged contracts worth some $2.7 billion, which is 85 percent of its year order target of $3.19 billion.
Source: Yonhap News Agency
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