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Hyosung Heavy wins US$286.7 mln in transformer deals with two U.S. tech firms

Hyosung Heavy Industries said it has secured 386.5 billion won in power transformer contracts with two U.S. technology companies, supplying ultra-high-voltage equipment for AI data centers in the southern and northern United States.

AI News Feed · 2026-09-15 12:50

The South Korean company will supply 765-kilovolt ultra-high-voltage transformers worth 220 billion won for an AI data center in the southern United States, and 345-kV transformers worth 166.5 billion won for another facility in the northern part of the country, according to the company's announcement carried by Yonhap News Agency.

The contracts add to Hyosung Group's power equipment business at a time of sharply rising U.S. electricity demand driven by the rapid buildout of AI data centers.

"With demand for power infrastructure surging in the AI era, the industry is entering a supercycle for the first time in 60 years," Cho said in a release.

Cho said Hyosung aims to rank among the world's top three players within five years by providing integrated power solutions covering transformers and circuit breakers as well as power stabilization systems, including high-voltage direct current, static synchronous compensators and energy storage systems. Earlier this month, the company set up a dedicated team to consolidate its expertise in those areas.

Hyosung Heavy Industries is also enlarging its North American production footprint. An expansion of its transformer plant in Memphis, Tennessee, is under way, and in July the company formed a joint venture with North American energy infrastructure company Quanta to manufacture ultra-high-voltage circuit breakers locally.

Hyosung Heavy has held the largest share of the U.S. 765-kV ultra-high-voltage transformer market since the early 2010s, supplying about half of such transformers installed on the U.S. power grid, the company said.

Its cumulative orders reached about 9.3 trillion won in the first eight months of this year, already exceeding its total for all of last year. The company has raised its annual order target to 12 trillion won from 8.4 trillion won.