Hyundai E&C and South Australian Government to collaborate on renewables investment projects

The South Australian Government and Hyundai Engineering and Construction (Hyundai E&C) have signed a Memorandum of Understanding (MoU) to collaborate on renewable energy, hydrogen, infrastructure projects and housing development. 

South Australia’s Trade and Investment Minister Joe Szakacs signed the MoU at Hyundai E&C’s headquarters in Seoul during his first trade mission to Korea and Japan.

Supporting future investment in South Australia

The aim of the partnership is to facilitate future investment projects and job creation in South Australia. A key focus is renewables projects, which will support South Australia to decarbonise its economy. The state is committed to 100% net renewables by 2027 and to reduce net greenhouse gas emissions by at least 50% by 2030.

‘This partnership with Hyundai E&C – a global industry heavyweight – demonstrates that major international players take our state’s commitment to decarbonisation seriously and want to join with us as we pursue these ambitious goals,’ says Minister Szakacs.

The collaboration will focus on 3 key areas where Hyundai E&C has expertise:

• Renewable energy: Solar and wind farms, hydrogen, battery energy storage, and offshore wind
• Infrastructure: Roads and rail tunnels, high-speed rail, bridges, maritime and port infrastructure, underground spaces, hospitals, and data centres
• Housing: Residential high-rise housing, which will assist South Australia to deliver its Housing Roadmap.

Hyundai E&C is a unit of Korea’s top automaker Hyundai Motor Group. Hyundai E&C is one of the world’s leading construction and engineering firms, with almost 15,000 employees in 34 countries. The company has completed more than 880 projects across 62 countries. It is a major player in civil engineering and infrastructure projects, including mega-projects like the Bosphorus Bridge in Turkey and Panama Metro Line.

Hyundai established an office in Sydney in April 2024 as part of its efforts to increase its footprint in Australia. Hyundai E&C says the agreement will allow the company to act on opportunities in South Australia’s rapidly growing construction sector.

‘Our mutual cooperation with the State of South Australia, a world leader in renewable energy, will serve as a catalyst for innovation in Australia’s energy infrastructure,’ says an official from Hyundai E&C's NewEnergy Division.

‘We’re excited about the opportunities this MoU provides to work more closely with Hyundai E&C, and that it will drive closer engagement with South Korea – a key regional economy,’ says Minister Szakacs.

Australia’s renewables opportunities

Australia has a legislated goal to decarbonise to net zero emissions by 2050. Significant investment is required to help make this happen. Australia offers strong investment opportunities in renewable energy, hydrogen, batteries, future transport, and low carbon liquid fuels. Government incentives and funding are available for investors.