Hyosung signs supply contract with Powerlink
Hyosung Heavy Industries has signed a 35 billion won ($25.9 million) transformer supply contract with Powerlink.
Image for illustration purposes.
South Korea, Seoul: Hyosung Heavy Industries has signed a 35 billion won ($25.9 million) transformer supply contract with Powerlink, the state-owned power company of Queensland, Australia. This marks a pivotal step in the Copperstring2032 project aiming to construct a transmission network connecting renewable energy produced in inland Queensland to the eastern coast.
The project is key for the state’s ambitious renewable energy goals, as its government has set a goal to convert more than 70% of its total power generation to renewable energy by 2032. Queensland is an ideal location for producing renewable energy, especially solar power, as it boasts over 300 days of sunshine annually.
Woo Tae-hee, CEO of Hyosung Heavy Industries commented: “Based on the know-how and competitiveness that Hyosung Heavy Industries has accumulated in the global transmission market, we will contribute to Queensland becoming a world-class renewable energy hub”.
Source: Business Korea
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