Hitachi Energy and HD Hyundai Electric announced the signing of a Memorandum of Understanding (MoU) to explore joint business opportunities for High-Voltage Direct Current (HVDC) projects in the Republic of Korea. The agreement aims to provide greater customer value and ensure grid reliability as Korea pursues its ambitious renewable energy targets.

Partnership Details and Signing Ceremony

The signing ceremony took place in Seoul during the Sweden–Korea Sustainable Partnership Summit, with Their Royal Highnesses Crown Princess Victoria and Prince Daniel in attendance. Korean and Swedish government officials, business leaders, and researchers participated in the summit to exchange national strategies, innovations, and successful models of public-private collaboration to advance the clean energy transition.

This agreement marks the first formal collaboration between Hitachi Energy, a global leader in electrification, and HD Hyundai Electric, a leading provider of electrical equipment and energy solutions. The partnership aims to align with Korean strategic objectives for HVDC projects throughout the country.

Strategic Objectives and Technology Deployment

Niklas Persson, Managing Director of Hitachi Energy's Business Unit Grid Integration, stated that the partnership aims to deploy HVDC at scale in Korea, aligning with President Lee's ambition for the Energy Expressway concept to power new factories and growing metropolitan areas. Hitachi Energy brings more than 70 years of proven HVDC technology that supports the energy transition, while HD Hyundai Electric provides deep-rooted local expertise.

A spokesperson at HD Hyundai Electric emphasized the importance of involving reliable partners with proven system delivery experience to complete the 2GW-scale demonstration project between Saemangeum and Seohwaseong by 2030. The company aims to strengthen its competitiveness in the HVDC sector by leveraging its new factory under construction in Ulsan as a dedicated production facility for HVDC transformers.

Korea's Renewable Energy Targets and HVDC Technology Role

Korea is targeting a fourfold increase in renewable energy capacity to more than 120 gigawatts (GW) by 2038. HVDC technology will be critical for efficiently transmitting clean electricity over long distances and integrating renewables into the national grid. The partnership between the two companies unites their complementary strengths to support Korea's energy transition, ensuring sustainable development and energy security across the country.

Recent HVDC Projects and Global Portfolio

Hitachi Energy recently commissioned the Wando-Dongjeju #3 HVDC Converter Station on Jeju Island, marking Korea's first installation of Voltage Source Converter (VSC) technology. This project connects Jeju Island to the mainland via a 200 megawatt (MW) HVDC link to enhance grid stability and reliability. The Jeju Island project is part of Hitachi Energy's global portfolio of transformative energy infrastructure initiatives that strengthen power systems worldwide.

The company maintains a 300 GW installed base and has delivered over half of the world's HVDC projects, continuing to build a more sustainable, secure, resilient, and affordable energy system. The partnership builds on past collaboration between Hitachi Energy and HD Hyundai Electric, combining global leadership with regional strength to deliver high-performance power solutions for Korea's expanding energy infrastructure needs.

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