Hyundai E&C steps up push into Australia's energy infrastructure market

Strategic partnerships with AusNet, CIP to expand energy network

Global energy players deepen ties with Korean construction giant

Hyundai Engineering & Construction CEO Lee Han-woo (right) and AusNet CEO David Smales sign a memorandum of agreement at AusNet's headquarters in Melbourne, Australia, on Friday (local time). [Hyundai Engineering & Construction]

Hyundai Engineering & Construction is accelerating its push into the energy market by expanding partnerships with leading global companies.

Hyundai E&C signed a memorandum of agreement with AusNet, Victoria state's largest energy network company, at AusNet's headquarters in Melbourne on Friday (local time), the company announced Monday. Under the MOA, the two sides agreed to cooperate on transmission and substation infrastructure and grid interconnection. Hyundai E&C CEO Lee Han-woo and AusNet CEO David Smales attended the signing ceremony.

AusNet operates three core infrastructure networks — electricity and gas distribution and a transmission grid spanning Victoria — providing stable energy supply to communities across the state. Hyundai E&C has maintained close cooperation with AusNet on transmission and substation infrastructure and renewable energy projects since the two companies signed a strategic MOU last year.

Beyond power infrastructure, the two companies agreed to broaden their cooperation to grid-connected projects such as battery energy storage systems and data centers. They also agreed to strengthen technical collaboration in engineering, procurement and construction as well as operations and maintenance through personnel exchanges, and to continue working together toward a long-term partnership.

Hyundai Engineering & Construction CEO Lee Han-woo (left) and Copenhagen Infrastructure Partners Flagship Investment Partner Yihua Lu pose for a photo after signing an MOU at CIP's Melbourne office on Thursday (local time). [Hyundai Engineering & Construction]

A day earlier, on Thursday (local time), Hyundai E&C signed a separate MOU with Copenhagen Infrastructure Partners, a Denmark-based firm that ranks among the world's largest green energy investment and asset management companies. The signing ceremony was held at CIP's Melbourne office and was attended by Lee and CIP Flagship Investment Partner Yihua Lu, along with other senior executives.

The two companies agreed to jointly pursue renewable energy projects and related infrastructure in the Asia-Pacific region. CIP is actively investing in wind, solar, energy storage, green hydrogen, and carbon capture and storage across more than 30 countries, including Australia.

"Australia's energy infrastructure sector is growing rapidly, driven by government-led expansion of large-scale power grids as rising electricity consumption from the spread of AI data centers converges with the shift to renewable energy," a Hyundai E&C official said. "We hope that Hyundai E&C, with its technology and business capabilities spanning the entire energy value chain, can generate strong synergies in the Australia and Asia-Pacific markets through medium- and long-term partnerships with global industry leaders."

Meanwhile, Hyundai E&C has identified strengthening global competitiveness across the energy value chain, pursuing profitability-driven growth through structural improvement, and enhancing organizational capabilities as its three core strategies this year.

lucky@heraldcorp.com