■ Expands Cooperation with Australia's AusNet from Power Transmission and Substation Infrastructure to Grid Interconnection Projects

■ Explores Joint Opportunities with CIP in Renewable Energy Infrastructure Projects across Australia and the Asia-Pacific Region

■ Strengthens Partnerships with Global Energy Players to Secure Early Business Opportunities in the Australian Market

Hyundai E&C CEO Lee Han-woo (left) and Yi-Hua Lu, a partner in CIP’s Flagship Fund, pose for a commemorative photograph following the signing of a memorandum of understanding at a ceremony in Melbourne, Australia, on October 15 (local time)

Hyundai E&C is accelerating its expansion into the energy market by strengthening partnerships with leading global companies.

Hyundai E&C announced that it signed a Memorandum of Agreement (MoA) with AusNet, the largest energy network company in the Australian state of Victoria, on October 16 (local time) at AusNet’s headquarters in Melbourne, Australia. Under the MoA, the two companies agreed to collaborate on power transmission and distribution infrastructure and grid interconnection projects. The signing ceremony was attended by key executives from both companies, including Hyundai E&C CEO Lee Han-woo and AusNet CEO David Smales.

AusNet operates three key infrastructure networks, comprising electricity distribution, gas distribution, and the transmission grid spanning the state of Victoria, to ensure a stable energy supply to local communities. Since signing a strategic memorandum of understanding (MoU) with AusNet last year, Hyundai E&C has maintained close cooperation in power transmission and substation infrastructure construction and renewable energy projects.

Under the latest MOA, Hyundai E&C and AusNet have agreed to expand their cooperation beyond existing power infrastructure projects to include grid interconnection projects involving battery energy storage systems (BESS) and data centers, with the aim of enhancing the flexibility, stability, and utilization of renewable energy. The two companies have also agreed to strengthen technical cooperation in engineering, procurement, and construction (EPC) and operations and maintenance (O&M) through personnel exchanges, while continuing to work together to establish a long-term partnership.

Meanwhile, on the 15th (local time), Hyundai E&C signed a memorandum of understanding (MOU) for strategic partnership with Denmark-based “Copenhagen Infrastructure Partners (CIP)”, the world’s largest green energy investment and management firm. 

The signing ceremony, held at CIP’s office in Melbourne, Australia, was attended by key executives, including Hyundai E&C CEO Lee Han-woo and CIP Flagship Fund Partner Yi-Hua Lu. The two companies agreed to collaborate on renewable energy projects and related infrastructure initiatives in the Asia-Pacific region.

CIP continues to invest in renewable energy, including wind, solar, energy storage, green hydrogen, and carbon capture and storage (CCS), in Australia and in more than 30 countries worldwide. It is regarded as a partner with strong potential for collaboration with Hyundai E&C across a range of fields.

A Hyundai E&C official said, “Australia’s energy infrastructure sector is expanding rapidly as the government moves to expand the power grid to meet rising electricity demand driven by the proliferation of AI data centers and the transition to renewable energy.”

The official added, “We expect Hyundai E&C, with its technological expertise and business capabilities spanning the entire energy value chain, to generate significant synergies across the Asia-Pacific market, including Australia, through medium- to long-term partnerships with leading global companies.”

Since establishing its Sydney branch in 2024, Hyundai E&C has been working to strengthen its presence in the Australian market by building close ties with local institutions and businesses. Last month, the company signed an investment agreement for the Chatswood high-rise residential development project in Sydney, marking its full-scale entry into the residential property development sector.

Building on its recently signed partnerships with AusNet and CIP, Hyundai E&C plans to further expand its network of leading global companies to deliver tangible business results in renewable energy development and power grid construction projects across Australia.