Hyosung Heavy Industries Signs 310 Billion Won Supply Contract with Australian Transmission Network Operator

Exclusive Supply of Extra-High Voltage Power Equipment for 5 Years

Second Major Contract in Australia Following Queensland

Customer-Centric Strategy Pays Off... Maintains No. 1 Market Share

Hyosung Heavy Industries has signed a long-term supply contract worth 300 billion won with an Australian transmission network operator.

Hyosung Heavy Industries has signed a long-term supply contract worth 310 billion won over five years for ultra-high voltage electrical equipment with Ausnet. From the right in the photo: Woo Taehee, CEO of Hyosung Heavy Industries; Jeff Robinson, Australian Ambassador to Korea; David Smales, CEO of Ausnet; Hyosung. Photo by Hyosung.

On July 2, Hyosung Heavy Industries announced that it has entered into a long-term supply agreement for extra-high voltage transformers, reactors, and other power equipment with AusNet, the sole transmission network operator in Victoria, Australia. The expected total contract value is approximately 310 billion won, and Hyosung Heavy Industries will have exclusive supply rights for extra-high voltage power equipment to the Victorian transmission grid for the next five years.

This contract follows a major order in March for an energy storage system (ESS) project in Queensland, Australia, valued at 142.5 billion won.

Through this agreement, Hyosung Heavy Industries will further strengthen its presence in the Australian market by supplying power equipment not only to Victoria, but also to key regions such as Queensland, New South Wales, and South Australia. Over the past 10 years, the company has maintained the number one market share for extra-high voltage transformers in Australia’s transmission sector by employing customer-centric strategies and swift responses from its local subsidiary.

This supply contract is regarded as a result of the global partnership strategy led by Chairman Cho Hyun Joon of Hyosung. Chairman Cho identified Australia early on as a strategic market, recognizing the rapid increase in demand for long-distance transmission networks and power system stabilization in line with the country’s expanding solar and wind renewable energy sectors, and has actively pursued local business expansion.

Previously, Chairman Cho stated, “Australia is a market where demand for long-distance transmission networks and power system stabilization technologies continues to grow, thanks to its abundant renewable energy resources and vast landmass,” adding, “We must become not just a supplier of power facilities, but a partner offering solutions for Australia’s energy policies.”

Chairman Cho also said, “Australia is one of the world’s most dynamic markets in terms of the speed and scale of its energy transition,” and added, “We will continue to expand our collaboration with next-generation power grid solutions such as high-voltage direct current (HVDC) transmission and static synchronous compensator (STATCOM), and become a partner leading Australia’s energy transition together.”

This content was produced with the assistance of AI translation services.