South Korea’s Samsung C&T Corp. announces that it has signed a memorandum of understanding (MOU) with Switzerland’s Hitachi Energy to cooperate for high-voltage direct current (HVDC) transmission line business.
An HVDC transmission system is regarded as a next-generation electricity transmission technology, ideal for renewable energy such as solar and wind power.
Hitachi Energy, the market leader in power control systems and electrical equipment — has been collaborating with Samsung C&T on a 3.5 trillion won ($2.4 billion) undersea HVDC project in the United Arab Emirates. The two companies are now looking to combine Samsung C&T’s expertise in engineering, procurement and construction with Hitachi Energy’s power system design and manufacturing capabilities, according to the company.(read more)
The companies will focus on securing opportunities in emerging HVDC markets, including the Middle East, Southeast Asia, and Europe.