Hyundai Electric & Energy Systems

Hyundai Electric and Energy Systems won two orders worth about $28.6 million to supply power transformers and gas-insulated switchgears to Saudi Electricity Co. and Saudi Aramco.

Bahrain's Electricity & Water Authority awarded contracts totaling BHD 12.38 million ($33M) for a 220kV substation related to a 100MW solar PV plant. Contractors include ESBI, ABB Switzerland, Hyundai Electric, LS Cable, CHAPO, and COMSIP AL A'ALI.

Hyundai Electric & Energy Systems won a $23.9 million order from Saudi Aramco to supply 24 units of 230 kV power transformers for the Hawiyah Gas Plant Expansion Project in Saudi Arabia. Delivery is scheduled by July 2021.

Hyundai Heavy Industries will sell 100 shares of its Alabama-based subsidiary Hyundai Power Transformer to affiliate Hyundai Electric & Energy Systems for 30.9 billion won (approx. $29 million) on April 16, 2018, to transfer the business.

Hyundai Electric & Energy Systems Co. will invest US$30 million to expand its power transformer plant in Alabama, USA, increasing annual production capacity from 80 to 130 units. The expansion is expected to be completed by the end of 2018.

Havells India entered into an agreement with Hyundai Electric & Energy Systems for technology know-how and a license to manufacture and market magnetic contactors under the Havells brand. Havells will also invest about ₹64 crore in brownfield expansion of its Sahibabad plant.

Hyundai Electric & Energy Systems plans to invest 87.97 billion won in a smart factory for 500kV transformers.

Hyundai Electric & Energy Systems Co Ltd announced it will acquire a China-based electrical machinery company for 40.5 billion won.