April 2023- Hyosung Heavy Industries recently disclosed that it secured 3.5101 trillion won (US$2.6752 billion) in sales and 143.2 billion won (US$109.1 million) in operating profit in 2022, thanking the rise in global demand for power generation equipment. This signified a rise of 23.1 billion won (US$17.6 million) in operating profit compared to 2021. The organization anticipates continued development because of the rise in new power generation sources and escalating demand for transmission and distribution in the global power market.
May 2022: After completing all procedures to establish Arteche Hitachi Energy Instrument Transformers S.L., the replacement for Arteche Gas Insulated Transformers (AGIT), Arteche and Hitachi Energy received regulatory permission. Through this partnership, Arteche and Hitachi Energy are hastening the creation of environmentally friendly, sustainable gas insulated transformers.
Meidensha Corporation (Meiden), in September 2022, entered into a sustainability-linked loan (SLL) agreement with Sumitomo Mitsui Banking Corporation (SMBC).
An Econiq 420 kv circuit breaker was released by Hitachi Energy in August 2022.
In May 2022, Arteche and Hitachi Energy obtained regulatory authorization, thereby completing all the formalities for the taking over of Arteche Gas Insulated Transformers (AGIT) to become Arteche Hitachi Energy Instrument Transformers S.L. Consequently, both companies are fast-tracking their green gas-insulated transformers journey through the establishment of a joint venture called Arteche Hitachi Energy Instrument Transformers S.L. The development is expected to foster the wide use of renewable energy sources and sustainable, environmentally friendly gas-insulated transformers.
A range of power transformers was introduced by General Electric in January 2022 to facilitate the adoption of renewable energy sources, such as the GE-Mistral-14, which operates between 275 kV and 400 kV, two large power transformers rated at 340 MVA each and MBH Power transformer. These have been deployed in various wind farms in many countries. GE’s range encompasses various voltage levels, suitable for applications like power generation, transmission and distribution.
Pfiffner and Trench had issued a joint statement on SF6-free instrument transformers as manufacturers, As SF6 has traditionally been used for safety purposes in AIS High Voltage Instrument Transformers. Nonetheless, SF6, when leaked, is viewed as one of its kind that results in a global warming problem.
The power minister of Goa state, India, announced plans to build to state's first gas-insulated substation in November 2021, which cost around USD4.3 million. This is intended to benefit consumers residing in Davorilm, Navelim as well as Margao and Curtorim areas. Furthermore, there have been proposals to deploy GIS technology throughout the area.
Collaboratively, Meidensha Corporation joined Toshiba in June 2021 with the plan of commercializing by March 2023 new GIS solutions for gas-insulated transformers based on natural origin gases.
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