Hyundai to help develop power transmission system in Ukraine

Ukraine’s NPC Ukrenergo and South Korea’s Hyundai Engineering & Construction have agreed to cooperate in the development of the electric power transmission system.  

The press service of Ukrenergo announced this on its Facebook page, Ukrinform reports.

Ukrenergo Board Chairman Volodymyr Kudrytskyi and Regional Director for Europe and North Africa of Hyundai Engineering & Construction (E&C) Hyung-Hwan Park signed a Memorandum of Understanding in the presence of Ukraine’s Minister of Energy German Galushchenko.

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

"Global businesses are looking for opportunities to invest in Ukraine, and the Ukrainian energy industry should become a key industry for successful investments in our development, and thus in the development of European energy security," Kudrytskyi commented on the agreement.

It is noted that Ukrenergo is ready to assist both Hyundai E&C and other companies in effectively researching the investment attractiveness of energy projects.

As reported, NPC Ukrenergo and the Swedish company Ingrid Capacity agreed to cooperate in the field of energy storage systems.

Photo: Ukrenergo/Facebook