HD Hyundai Electric is intensifying its efforts to target the European data center market.
HD Hyundai Electric, a subsidiary of HD Hyundai that specializes in power equipment and energy solutions, announced on the 29th that it has signed a memorandum of understanding (MOU) for cooperation in the supply of power equipment with Bulk Infrastructure, a Norwegian company specializing in data and communication infrastructure. The power equipment covered by the MOU includes power transformers and high-voltage circuit breakers for data centers.
Through this agreement, HD Hyundai Electric has secured the opportunity to participate first in the bidding for power equipment for the data center construction project led by Bulk Infrastructure. Additionally, cooperation between the two companies to win orders for environmentally-friendly high-voltage circuit breakers is expected to intensify.
Through this agreement, HD Hyundai Electric will secure the first opportunity to participate in the bidding for power equipment for the data center construction project being promoted by Bulk Infrastructure. Furthermore, cooperation between the two companies to win orders for environmentally-friendly high-voltage circuit breakers is expected to be initiated.
Founded in 2006, Bulk Infrastructure currently operates a total of five data centers in Norway and Denmark. Last year, HD Hyundai Electric signed a contract to supply ultra-high voltage transformers for a large data center located in Benesla, Norway, operated by Bulk Infrastructure.
According to a report published by the International Energy Agency (IEA) in 2024, last year, the power consumption of data centers in Europe was 70 TWh, making it one of the top three regions for data center power consumption in the world, along with the United States and China. The IEA also projected that global data center power consumption will increase by an average of 15% per year from 2024 to 2030, exceeding the overall power consumption growth rate during the same period by four times.
An official from HD Hyundai Electric noted, "With this agreement, we have established a foothold for entering the European data center market, bringing us one step closer to our goal of expanding our market share in Europe," and added, "We will focus on developing environmentally-friendly power equipment specialized for the European market centered around local research institutes in Switzerland and Hungary."
Meanwhile, HD Hyundai Electric recently signed a supply contract for ultra-high voltage transformers rated at 400 kV worth 40 billion won with Energinet, a state-owned power company based in Denmark. The transformers ordered this time are scheduled to be delivered for the expansion of substations in Denmark in response to the growth of renewable energy generation.