HD Hyundai Electric to invest $274 mn in transformer output ramp-ups

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HD Hyundai Electric to invest $274 mn in transformer output ramp-ups - Korea Economic Daily

Quick Summary:

HD Hyundai Electric Co., a South Korean electric power equipment maker, plans to invest about half of its operating profit for last year, estimated at 720 billion won ($493 million), to seize an opportunity during the transformer market boom by easing a supply bottleneck.

With the aggressive investment, HD Hyundai Electric will up the ante in the US transformer market grappling with an order bottleneck on stronger-than-expected demand amid the burgeoning artificial intelligence and renewable energy sectors.

According to global energy industry research firm Wood Mackenzie, the general transformer manufacturing lead time, the period between an order being placed and the completion of the order, has steadily increased in the US over the past two years to up to 115 to 130 weeks, while the lead time for large-sized ultra-high-capacity transformers is estimated at 120 to 210 weeks.