Hyosung Heavy Industries has secured its first energy storage system (ESS) project in Australia, following its record-breaking power equipment export deal in the United States.
The company announced on the 12th that it signed an engineering, procurement, and construction (EPC) contract for a battery energy storage system (BESS) to be installed in the Tankcam region of Queensland, Australia. The contract is valued at 142.5 billion won ($100 million), representing 2.9% of Hyosung Heavy Industries' consolidated revenue of 4.895 trillion won in 2024.
The project involves building a 100MW/200MWh battery-based ESS in Tankcam, with commercial operations targeted for late 2027. This marks Hyosung Heavy Industries' first ESS supply to the Australian market. The company plans to showcase integrated control technology covering battery management to power equipment integration through its proprietary battery management system (BMS) software.
Hyosung Heavy Industries has been accumulating order backlogs across global markets including the United States, Europe, and Australia this year. Last month, the company won its largest-ever power equipment supply contract worth 787 billion won in the United States and secured a long-term ultra-high voltage transformer supply contract worth 29 billion won in Finland.
Industry observers attribute the record-breaking performance to Chairman Cho Hyun-joon's hands-on global management approach and extensive network. Last year, Chairman Cho visited Washington D.C. and held in-depth discussions on Australia's energy infrastructure issues with political and business leaders including Kevin Rudd, Australian Ambassador to the United States. In January this year, he explored cooperation measures with a delegation including Bran Black, CEO of the Business Council of Australia. He has also broadly engaged with local figures, meeting executives of major Australian utility companies and senior government officials involved in energy policy.
"Future competitiveness in the power industry will be determined by solutions that can control the entire power grid," Chairman Cho said. "We will combine Hyosung Heavy Industries' HVDC capabilities as a key player in the global power market, along with the high trust built through ultra-high voltage transformers and circuit breakers, with future core technologies such as ESS and STATCOM to elevate the status of Korean power equipment as a 'total solution provider' and lead exports."
