Samsung C&T Corp. is expanding its power transmission business through a new partnership with Switzerland’s Hitachi Energy, building on their ongoing collaboration in the United Arab Emirates.
The South Korean construction company signed a memorandum of understanding with Hitachi Energy to jointly pursue high-voltage direct current transmission projects globally. The partnership follows their work on a 3.5 trillion won ($2.4 billion) undersea HVDC project in the UAE.
The companies plan to focus on emerging markets in the Middle East and Southeast Asia, as well as Europe, according to a statement Monday. HVDC technology is particularly suited for transmitting renewable energy from solar and wind installations over long distances with minimal power loss.
The agreement marks Samsung C&T’s latest push into sustainable infrastructure as countries worldwide invest in upgrading their power grids to handle increasing renewable energy capacity. The global HVDC market is expected to grow as nations work to meet climate goals and improve grid reliability.
Neither company disclosed specific investment targets or timeline for future projects under the new partnership.
