Hyosung Heavy Industries to Build W142.5 Billion Battery Storage System in Queensland, Australia
Hyosung Heavy Industries has announced a significant contract win in Australia, securing a 142.5 billion won ($96.3 million) deal to build a battery energy storage system (BESS) infrastructure. This marks the company’s entry into the Australian energy storage market.
The agreement, signed with Australian project company Tangkam BESS, will see Hyosung construct a 100-megawatt, 200-megawatt-hour BESS in Tangkam, Queensland, near Brisbane. This project is strategically located on Australia’s eastern coast, a key region for renewable energy development.
The advanced battery storage system will have the capacity to deliver up to 100 megawatts of peak power, providing crucial grid support and storing enough electricity to operate at full capacity for approximately two hours.
Hyosung Heavy Industries will supply a comprehensive, integrated energy storage solution, leveraging its advanced battery management system (BMS) software to enhance grid reliability and stability. The project is slated for commercial operation by the end of 2027, contributing to Australia’s ambitious renewable energy goals.
This project aligns with Australia’s broader strategy to expand its energy storage capabilities, ensuring grid stability as the nation accelerates its transition to renewable energy sources. The Australian government’s Rewiring the Nation program, with an investment of approximately 20 billion Australian dollars ($28 billion), aims to upgrade transmission infrastructure and increase the share of renewable electricity to 82 percent by 2030.
Industry experts highlight the instrumental role of Hyosung Group Chairman Cho Hyun-joon in securing this important agreement, citing his direct engagement with global partners.
Chairman Cho has actively pursued collaborations in energy infrastructure, holding meetings with key utility executives and government officials. His efforts included discussions with Australian political and business figures, including former Prime Minister and current Ambassador Kevin Rudd, during a visit to Washington, focusing on energy policy and infrastructure development.
The Australian BESS project follows a series of significant overseas contracts secured by Hyosung this year, demonstrating the company’s growing global presence in the energy sector.
In the United States, Hyosung recently secured its largest-ever power equipment supply contract, valued at 787 billion won. Additionally, the company secured a 29 billion won long-term agreement in Finland to supply ultrahigh-voltage transformers.
Chairman Cho emphasizes the increasing importance of integrated solutions for managing power systems in the competitive energy industry.
“By combining our expertise in ultrahigh-voltage transformers and circuit breakers with advanced technologies such as ESS, Statcom and HVDC, Hyosung Heavy Industries will strengthen the global presence of Korean power equipment as a total solution provider,” stated Chairman Cho. He further explained that Statcom is a device for voltage regulation, while High Voltage Direct Current (HVDC) technology is vital for efficient power transmission.
Hyosung has established a strong foothold in Australia’s power equipment and maintenance market over the past decade, holding the leading market share in ultrahigh-voltage transformers within the country’s transmission sector.
In 2023, Hyosung signed a long-term agreement to supply ultrahigh-voltage transformers for the EnergyConnect transmission project, linking South Australia and New South Wales. Further reinforcing its position, Hyosung secured additional contracts in 2024 and 2025 with a Queensland state-owned utility and a major energy company for ultrahigh-voltage power equipment.
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