HD Hyundai's marine industry solution corporations, HD Hyndai Marine Solution, will supply maintenance parts for power generation engines and auxiliary equipment to Ecuador.
HD Hyndai Marine Solution said on the 6th that it recently signed a $56 million (about 82.5 billion won) maintenance contract for power generation facilities with the Ecuadorian electric power corporation. It is the largest single contract to date for HD Hyndai Marine Solution's onshore power generation business.
Through this, HD Hyndai Marine Solution will supply engine and auxiliary equipment maintenance parts packages to eight thermal power plants with a total capacity of 400MW (megawatts) operated by the Ecuadorian electric power corporation by early next year.
This supply contract was pursued to resolve the national energy crisis facing Ecuador.
Ecuador, which has heavily relied on hydropower, has recently experienced prolonged droughts, causing blackouts of up to 20 hours and many inconveniences.
HD Hyndai Marine Solution plans to swiftly deliver maintenance parts needed for thermal power generation and provide additional technical support to lead the stabilization of operations at thermal power facilities that will replace hydropower.
An HD Hyndai Marine Solution official said, "Starting with this supply contract, we plan to strengthen our strategic partnership with Ecuador," and added, "We will further expand high value-added aftermarket (AM) businesses such as onshore power generation plants to improve profitability."