HD Hyundai Electric Secures Major Power Transformer Contract in the U.S.

SEOUL - HD Hyundai Electric & Energy Systems Co., a South Korean manufacturer of electrical equipment, announced on Friday that it has won a contract worth 78.2 billion won (approximately US$59.9 million) to supply nine extra-high voltage power transformers to Silicon Valley Power in Santa Clara, California. This deal marks a significant achievement for the company in the American market.

According to Yonhap News Agency, The transformers, which have capacities of 230 kV and 115 kV, are scheduled for delivery by August 2026. HD Hyundai Electric, part of the HD Hyundai conglomerate involved in shipbuilding, oil refining, and machinery, stated that the transformers would be utilized for expanding substations in Santa Clara. This development comes as the city council of Santa Clara has committed to investing $4 million over the next decade to upgrade its aging power grid and expand new substations. This project is considered the fourth-largest public infrastructure initiative in the United States.

HD Hyundai Electric expressed optimism about securing additional contracts in the U.S., particularly in light of the Biden administration's 2021 announcement to invest around $73 billion in modernizing the country's electricity grid. In the first nine months of this year, HD Hyundai Electric has secured contracts totaling about $2.7 billion, representing 85 percent of its annual order target of $3.19 billion.

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