South Australia and Hyundai E&C Partnering for Renewable Energy and Hydrogen Growth
Key Ideas
- South Australia and Hyundai E&C signed an MoU for significant collaboration in renewables and hydrogen projects.
- South Australia aims to reach 100% net renewables by 2027 and reduce greenhouse gas emissions by 50% by 2030.
- The partnership is expected to create additional jobs, attract investments, and strengthen South Australia's position in the net-zero transition.
- Hyundai E&C sees the collaboration as a catalyst for innovation in Australia's energy infrastructure and global partnerships.
The South Australian government has signed a memorandum of understanding (MoU) with Hyundai Engineering and Construction (Hyundai E&C) to collaborate in areas such as renewables and hydrogen. This partnership aims to leverage South Australia's expertise in renewable energy and green hydrogen with Hyundai E&C's global industry presence. South Australia, known for operating with over 70% renewable energy, plans to achieve 100% net renewables by 2027 and reduce net greenhouse gas emissions by 50% by 2030. The MoU is seen as a significant step towards enhancing South Australia's global reputation in the transition to net-zero. By exploring opportunities for investment in renewable energy, infrastructure, housing, and hydrogen projects, the partnership is expected to boost job creation, prosperity, and decarbonisation efforts in the state. Hyundai E&C, a renowned construction and engineering firm, views this cooperation as a way to drive innovation in Australia's energy infrastructure and contribute to South Australia's economic growth. The undisclosed official from Hyundai E&C's NewEnergy Division expressed optimism that the partnership will not only benefit South Australia's economy but also foster strong synergies in global public-private partnerships for mutual growth.