Hyundai Engineering & Construction signed a memorandum of understanding with South Australia to develop renewable energy and infrastructure projects, marking the Korean builder’s expansion into the region’s green transition.
The agreement, signed at the company’s Seoul headquarters, focuses on hydrogen production, solar power, offshore wind facilities and power grid development. The partnership includes project design, construction, financing and operations management.
South Australia leads Australia’s renewable energy adoption, with 74% of its electricity already coming from clean sources. The state government has committed to reaching carbon neutrality by 2027 and full renewable power by 2030, backed by AUD 21 billion ($13.5 billion) in planned projects.
The state recently introduced the Hydrogen and Renewable Energy Act to streamline approval processes for new hydrogen initiatives, positioning itself to attract international investment in the sector.
Choi Young, head of Hyundai E&C’s New Energy Business Division, met with South Australia’s Trade Minister Joe Szakacs to formalize the deal. The construction unit of Hyundai Motor Group sees the partnership as an entry point to expand its presence in Australia’s growing renewable infrastructure market.
The collaboration also covers housing development projects, though specific investment amounts weren’t disclosed.
