Aug 16 2010
Hyundai Heavy Industries has succeeded in winning a global bid for $700 million project and signed an agreement with Matinee Energy a US company to construct one of the largest solar power plants in the world.
The power plant project signifies the first phase of a 900 MW solar power development in 15 locations in Arizona and California states. Hyundai has won this order competing with leading global companies from China and Germany. The company is likely to get ensuing orders from Matinee Energy for the completion of the project.
The first phase of the development requires construction of a 150 MW solar energy plant in Dragoon, Arizona and a smaller 25 MW plant close by Cochise and both the plants are situated in the southeastern part of the state. As per the terms of the agreement Hyundai owns the responsibility for the engineering, design, purchase of the required components and building of the plant. The company has plans to manufacture the solar energy modules required for project at its own manufacturing facility located in Eumseong, North Chungcheong.
Hyundai Heavy Industries, currently holding the distinction of the largest ship builder in Korea is said to be the only company in the country to manufacture a complete range of solar power products including solar batteries, solar modules, and solar power systems. The plant to be located in Arizona is seen as a sensitive opening for the country of Korea to showcase its green energy technology to the world and aid its aim to become a world known leader for the eco friendly technology.
Source: http://english.hhi.co.kr/