Hyundai Engineering & Construction Targets Australia's Energy Infrastructure Market, Strengthens Ties with Local Firms
Expanding cooperation with local energy network company AusNet
Advancing renewable energy projects in Asia-Pacific with CIP
Hyundai Engineering & Construction said on October 19 that it had signed a memorandum of agreement (MOA) with AusNet, an energy network company in the Australian state of Victoria, to cooperate on power transmission and substation infrastructure and grid connections.
AusNet operates three key infrastructure networks: electricity distribution, gas distribution, and a transmission network spanning Victoria. The two companies have been working together on power infrastructure projects since signing a strategic memorandum of understanding (MOU) last year. Under the new MOA, they agreed to expand their cooperation beyond existing infrastructure projects to include grid connection projects for energy storage systems (ESS) and data centers. They also agreed to strengthen technical cooperation in engineering, procurement and construction (EPC) and operations and maintenance through personnel exchanges, and to build a long-term partnership. Hyundai Engineering & Construction CEO Lee Hanwoo and AusNet CEO Davis Smales attended the signing ceremony on October 16.
Lee Hanwoo, CEO of Hyundai Engineering & Construction (right), and AusNet CEO Davis Smales pose for a commemorative photo after the signing ceremony for a partnership MOA in Melbourne, Australia, on the 16th (local time). Photo by Hyundai Engineering & Construction.
View original imageBefore this, Hyundai Engineering & Construction signed a strategic memorandum of understanding (MOU) with Copenhagen Infrastructure Partners (CIP), a Denmark-based company that is the world's largest investor and manager of green energy. Lee Hanwoo and other senior executives, including Hwa Lu, a partner in CIP's flagship investments team, attended the signing ceremony at CIP's Melbourne office in Australia. The companies agreed to cooperate on infrastructure projects related to renewable energy in the Asia-Pacific region. CIP continues to invest in renewable energy in around 30 countries worldwide, including Australia.
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A Hyundai Engineering & Construction official said, "Energy infrastructure projects in Australia are growing rapidly, as the government leads a major expansion of the power grid amid rising electricity consumption driven by the spread of artificial intelligence (AI) data centers and the transition to renewable energy. We hope to create synergies in the Asia-Pacific market through medium- to long-term partnerships with global industry leaders."
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