South Korea's Hyosung Wins First Australian 100MW/200MWh Energy Storage Project

Hyosung Heavy Industries has won its first energy storage system project in Australia. The 100-megawatt, 200-megawthour Tangkam BESS project in Queensland is a design, procurement and construction contract worth KRW 142.5 billion. The project is slated to begin operations by the end of 2027.

This marks Hyosung’s entry into the Australian ESS market. Earlier this year the company also secured a major power equipment contract in the United States, valued at KRW 787 billion, described by Hyosung as the largest power equipment deal since the company’s founding. The Australian deal follows a pattern of growing international orders for the group.

Hyosung Chairman Jo Hyun-joon has been actively engaging overseas markets, strengthening direct ties with local utilities and government energy ministries. Company officials say his on-site leadership and broad business networking contributed to landing the Australian contract.

Australia’s energy strategy underpins the deal. The government is pursuing a nationwide grid modernization program valued at about AUD 200 billion, creating opportunities for advanced electrical equipment and integration technologies, including high-voltage direct current and large-scale energy storage.

Hyosung plans to couple its core transformer business with ESS and HVDC technologies to offer total solutions for grid modernization. The company views its existing reliability in the transformer market as a stepping stone to competing in the growing ESS and HVDC segments in Australia and beyond.

For U.S. readers, the development matters for several reasons. Global demand for energy storage and HVDC-linked grid upgrades is rising as utilities seek reliability, resilience and decarbonization. Korean manufacturers like Hyosung are expanding overseas to supply equipment and systems that could support U.S. grid modernization projects and cross-border supply chains.

Context for non-Korean readers: Hyosung Heavy Industries is a major Korean supplier of high-voltage equipment, transformers and related power-system technologies. Its international deals illustrate Korea’s broader push to leverage advanced energy hardware to participate in global grid upgrades, an area with strong implications for security, technology leadership and international trade.