British electricity utility company National Grid to receive $34.17 mln worth of transformers from Hyundai Electric

Kim Joo-heon Reporter() | Posted : September 7, 2022, 17:33 | Updated : September 7, 2022, 17:53

[Courtesy of Hyundai Electric]

SEOUL -- Hyundai Electric & Energy Systems, a domestic electrical equipment manufacturer and energy solution provider, has sealed an order worth 47.4 billion won ($34.17 million) to supply transformers to National Grid, a London-based electricity and gas utility company. The transformers will be installed at five substations starting in 2024.
 
Hyundai Electric said Britain's demand for electricity has significantly increased due to an unprecedented heat wave. However, the country is suffering from disruptions in electricity production because of its low power generation utilization rate. Other European countries are also trying to replace old power facilities and power grids due to rising concerns over energy supply shortages caused by the prolonged Russia-Ukraine war.
 
Hyundai Electric will supply seven 400 kilovolt (kV)-class ultra-high voltage transformers and one 275kV-class transformer. A kilovolt is equal to 1000 volts. "As abnormal climates are becoming more frequent around the world, investments are continuing to diversify and stabilize power supply chains such as the expansion of renewable power generation," an unnamed Hyundai Electric official said in a statement on September 7. In August 2022, Hyundai Electric signed an agreement with Saudi Electricity Company to supply 67.6 billion won worth of power devices. 
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