HD Hyundai Electric said on the 6th it set this year's annual order target at $4.222 billion (about 611.59 billion won). That is up 10.5% from the prior-year target. The sales goal is 4.35 trillion won, up 11.8% in the same period.

HD Hyundai Electric said demand for power equipment is steadily increasing as the global power infrastructure build-out accelerates on the spread of artificial intelligence (AI) data centers, the faster shift to eco-friendly, high-efficiency electrification, and the wider adoption of energy storage systems (ESS), and it expects opportunities to expand across all business areas.

A view of HD Hyundai Electric's Ulsan business sites. /Courtesy of HD Hyundai Electric

HD Hyundai Electric will push early electrification of production hubs undergoing large-scale new and expanded construction to achieve its targets. It will complete on time the expansion of transformer plants in Ulsan and the United States, while advancing manufacturing methods to boost productivity, nurturing skilled technical personnel, and securing a stable supply chain. It will also pursue early stabilization and advancement of the automation system at the Cheongju distribution campus, which will go into full operation in the first half.

It will also strengthen market expansion and business diversification. The plan is to secure a new product lineup in the distribution sector and diversify sales channels by expanding local strategic partnerships.

Meanwhile, HD Hyundai Electric said the same day it signed a contract worth 98.6 billion won to supply 765-kilovolt (kV) ultra-high-voltage transformers to the largest U.S. transmission grid operating power company. The products will be delivered sequentially through 2028. In September last year, it signed a 277.8 billion won contract to supply 765 kV ultra-high-voltage transformers and reactors to the largest power company in Texas.

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