Hyundai collaborates on power transmission system in Ukraine

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【Summary】Hyundai Engineering & Construction and NPC Ukrenergo will collaborate to develop Ukraine's electric power transmission system. The agreement includes studying areas of cooperation and potential opportunities for Hyundai to participate in Ukrenergo projects. Ukrenergo aims to attract international investments and become a key industry for successful development and European energy security.

FutureCar Staff Nov 15, 2023 10:14 PM PT

Hyundai collaborates on power transmission system in Ukraine

Ukraine's NPC Ukrenergo and South Korea's Hyundai Engineering & Construction have announced their collaboration in the development of the electric power transmission system, according to a statement by Ukrenergo's press service on Facebook.

The Memorandum of Understanding was signed by Ukrenergo Board Chairman Volodymyr Kudrytskyi and Hyundai Engineering & Construction's Regional Director for Europe and North Africa, Hyung-Hwan Park. The signing ceremony took place in the presence of Ukraine's Minister of Energy, German Galushchenko.

The agreement includes a joint study to identify areas of potential cooperation and explore opportunities for Hyundai E&C to participate in Ukrenergo projects.

"The Ukrainian energy industry should become a key sector for successful investments in our development and the development of European energy security," commented Kudrytskyi on the agreement, highlighting the importance of attracting global businesses to invest in Ukraine.

Ukrenergo has also expressed its readiness to assist Hyundai E&C and other companies in conducting effective research on the investment attractiveness of energy projects.

Earlier, Ukrenergo had signed a cooperation agreement with the Swedish company Ingrid Capacity in the field of energy storage systems.

Photo: Ukrenergo/Facebook