HD Hyundai Electric has recently entered into a supply contract with the Saudi Electricity Company (SEC) for high-voltage circuit breakers and reactors.
On Nov. 8, HD Hyundai Electric officially announced that it had signed a contract with the SEC on Nov. 7 for the supply of 380-kilovolt (kV) high-voltage circuit breakers and more. The contract is valued at 82.2 billion won (US$62.68 million), which represents 3.91 percent of the revenue based on last year’s consolidated figures.
The products secured in this contract consist of 380 kV high-voltage circuit breakers and reactors. They are intended to be supplied to four new substations being constructed by the SEC in the eastern and central regions of Saudi Arabia with completion scheduled for September 2025. The total contract amount is 82.2 billion won (US$62.68 million).
The Saudi Arabian government is actively working towards expanding the national total power production to 120 gigawatts (GW) by 2030 through initiatives such as “Vision 2030” and the “National Renewable Energy Program.” Additionally, it is undertaking significant infrastructure investments, including urban development projects.