Hyosung Heavy Industries Wins Contract for Australian ESS Project

Securing an ESS design-construction contract worth approximately KRW 140 billion

Sales in North and Central America last year exceeded KRW 1 trillion for the first time

Hyosung Heavy Industries has secured a battery energy storage system (BESS) contract worth KRW 140 billion in Australia, thereby broadening its business prospects. The company established a presence in the United States and Europe, making over KRW 1 trillion in sales in the North and Central American markets. Following this achievement, it plans to actively seek out new markets, including Australia.

Hyosung Heavy Industries announced that it recently signed a KRW 142.5 billion contract with Tangkam BESS Pty. Ltd. for the design, procurement, and construction of energy storage systems (ESS) in Australia. The project involves building a 100MW/200MWh battery-based ESS in the Tangkam region of Queensland, Australia, with commercial operation targeted at the end of 2027. The company will handle the installation and test-drive, and the maintenance contract will be signed separately.
This marks the first time Hyosung Heavy Industries has supplied an ESS to Australia. The Australian government is implementing a policy to expand ESS aimed at stabilizing the power grid, investing a budget of AUD 20 billion (approximately KRW 20 trillion) to increase its renewable energy generation ratio to 82% by 2030.
Hyosung Heavy Industries believes that this new supply project will be a key solution for the Australian power grid, and plans to show its integrated system-control technology through its own battery management system software.
The company also plans to expand full-scale into global markets. It proved its competitiveness among leading global competitors last year, when its heavy-industry division achieved sales of KRW 1.1123 trillion in the North American market for the first time since its founding. Last month, the company secured a KRW 787 billion contract in the United States for the supply of power equipment, which is the largest in the company’s history, and a KRW 29 billion long-term supply contract for ultra-high voltage transformers in Finland.

 
korean-electronics.com | Blog Magazine of korean electronics, brands and Goods