HD Hyundai Electric wins $50 mn transformer order in Sweden

Quick Summary:

In line with the European Union’s Green Deal policy, which aims for carbon neutrality by 2050, HD Hyundai Electric expects that the transition to green energy across various industries, including transportation, steel, and defense, will further increase electricity demand in Sweden and Europe.

This marks the first time that HD Hyundai Electric secured a power equipment order in Sweden, a country that competes with France for the position of Europe’s largest electricity exporter.

Recently, Sweden has been working to expand its transmission network capacity to meet growing electricity demand and diversify energy sources in line with global energy security trends.

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Article Details

Category: Economy

Markets: South KoreaFranceGermanyLithuaniaPolandSweden

Topics: Increase Sweden Order Electric Supply Hyundai Electricity Equipment Korea Power Energy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-30 @ 16:21:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 264 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 17 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 22305870

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