Samsung C&T enters HDVC market with Hitachi Energy partnership
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Samsung C&T (Construction & Trading) has signed an agreement with Swiss based manufacturer Hitachi Energy to expand their opportunities for cooperation and participation in the global HVDC market.
The partnership will see Samsung C&T enter the full-scale HVDC market in line with the expansion of global energy infrastructure.
The company’s focus in the HVDC market includes potential domestic projects, as well as the Middle East, Southeast Asia, and Europe.
Specifically, by combining Samsung C&T’s EPC (engineering, procurement and construction) execution capabilities with Hitachi Energy’s design and manufacturing tech in the power sector, Samsung C&T says they are planning to expand opportunities for participation in various businesses.
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In addition, Samsung C&T is currently collaborating with the UAE submarine HVDC project worth approximately KRW3.5 trillion ($2.4 billion) by supplying and installing converter stations (power converters).
Samsung C&T signed the partnership at the Hitachi Energy Korea headquarters in Trade Tower, Samseong-dong, Gangnam-gu, Seoul.
Commenting in a release was Kim Sung-jun, vice president and head of sales team at Samsung C&T P&G: “Through this business agreement, we expect to strengthen the cooperative relationship between the two companies and maximise the innovation capabilities of both companies. We will continue to pursue cooperation and growth in the future.”
Added Choi Seok-hwan, president of Hitachi Energy Korea: “Through close cooperation between the two companies, we will lead the global ultra-high voltage direct current transmission market, and this agreement will be an important opportunity for both companies.”
HVDC is a method of converting alternating current produced at a power plant into high-voltage direct current and transmitting it. It is a key technology for long-distance, large-scale power transmission with low energy loss and high stability.
As data centres are being expanded globally due to energy transition and expansion of power infrastructure, as well as the recent activation of AI businesses, demand for stable power transmission is rapidly increasing, with the market size expected to expand to approximately KRW 159 trillion (approximately $111 billion) by 2030.
