Hyundai Engineering gets Hillsboro solar power plant rights
Hyung-Kyu Kim
Aug 01, 2024 (Gmt+09:00)
South Korea's Hyundai Engineering Co. announced on Thursday that it acquired a 260 MW Hillsboro Solar Power Plant project from OCI Energy.
This is Hyundai Engineering's first investment in the overseas renewable energy sector.
The Hillsboro Solar Power Plant, set to be located in Hill County, about 100 km south of Dallas, Texas, will have a capacity of 260 MW and an annual production of 492 GWh. This is enough to supply electricity to 46,000 households per year based on US standards.
Hyundai Engineering plans to commence commercial operations of the Hillsboro Solar Power Plant in the first half of 2027.
The company is in contact with local design, procurement, and construction firms for the project and is reviewing major equipment and solar module suppliers.
Hyundai Engineering emphasized that the latest acquisition reinforces its image as a next-generation energy specialist, leveraging its design, procurement, and construction (EPC) capabilities.
The company is expanding its business portfolio into next-generation energy fields.
In December 2021, the company completed the Saemangeum Onshore Solar 1 Area Development Project with Korea South-East Power.
In April, it signed a memorandum of understanding with Korea Overseas Infrastructure & Urban Development Corp. (KIND) for jointly developing renewable energy projects in Europe and South America.