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[Alpha Biz=(Chicago) Reporter Kim Jisun] HD Hyundai Electric's order backlog also exceeded $4 billion due to a surge in demand for power devices due to a surge in renewable energy.
HD Hyundai Electric announced on the 9th that it has signed a contract with Saudi Arabia's Power Agency (SEC) to supply high-voltage short-term and reactor worth 82.2 billion won.
The product ordered this time is a 380kV high-pressure insulation device and reactor. It will be supplied by September 2025 to four new substations to be built by the Saudi Power Agency in eastern and central Saudi Arabia.
The Saudi government has expanded its total national power output to 120 GW by 2030 and is carrying out large-scale infrastructure investments such as urban development through 'Vision 2030' and 'National Renewable Energy Program'.
HD Hyundai Electric's order backlog in the third quarter was 3.967 billion dollars (about 5.2 trillion won), exceeding the cumulative order amount of 4 billion dollars including this order. The figure is up 43 percent from a year earlier. As demand for renewable energy rises worldwide, orders for power devices have naturally surged, and the company has recently expanded production lines at home and abroad.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
