By Kim Yoo-chul
Hyundai Heavy Industries (HHI) has won a $700 million contract to build one of the world's largest solar energy plants in the United States.
Companies from China and Germany also bid for the deal but Hyundai Heavy emerged as the winner.
Under the deal, the company will construct two solar plants for Matinee Energy ― one with a capacity of 150 megawatts in Dragoon and the other with 25 megawatts in Cochise, both in Arizona.
HHI, the world’s top shipbuilder, has been negotiating with Matinee since April. The deal is part of projects by California and Arizona for total power generation of 900 megawatts.
Construction will start in September.
"The deal has given us a stamp of approval as a global solar power plant builder. We expect more deals in Europe and Asia, as well as the United States," said Kim Kwang-kook, a senior spokesman at Hyundai, Wednesday.
The shipbuilder will make the solar modules ― the key components for the plants ― at its domestic plant in North Chungcheong Province.
Kim said it has begun expanding solar lines in the province from July to raise solar cell production up to 600-megawatt in terms of power generation capacity. .
The latest U.S. deal came just a few days after Hyundai won a $90 million contract to build a power transformer plant in Montgomery, Alabama.
Hyundai expects its sales of solar cells and solar modules to reach 1 trillion won this year, cashing in on the increasing demand for alternative energy.