Project Accountant - Transmission

Hyosung Heavy deepens US push with local circuit breaker production. Published: Sept. 18, 2026 - 15:24:52 Ahn Sung-mi Chair Cho Hyun-joon strengthens partnership with Quanta as Hyosung expands its US power equipment business. Hyosung Heavy Industries is expanding its manufacturing footprint in the US by producing high-voltage circuit breakers in Pennsylvania, as surging power demand from artificial intelligence and data centers drives investment in the US grid. The South Korean power equipment maker's US subsidiary, Hyosung HICO, signed an agreement with a subsidiary of Quanta Services, a Texas-based energy infrastructure company, in June to establish Hyosung HICO Breaker. The new joint venture is expected to begin producing gas circuit breakers as early as October at Quanta's existing facility in Canonsburg, Pennsylvania. The facility will manufacture high-voltage circuit breakers ranging from 72.5 kilovolts to 800 kilovolts. The venture makes Hyosung Heavy the first South Korean power equipment manufacturer to operate US production bases for both transformers and high-voltage circuit breakers, according to the company. The move comes as US utilities accelerate investment in transmission infrastructure to meet growing electricity demand from AI data centers and other power-intensive industries. Quanta Services is a major US engineering, procurement and construction company specializing in power and energy infrastructure. Its customers include utilities, power generators, energy storage projects, data centers, and telecommunications companies across the US. Hyosung said the partnership combines the company's power equipment expertise with Quanta's infrastructure capabilities, which will support the company's broader expansion across the US power market. The company has more than 50 years of experience in high-voltage circuit breakers and supplies the equipment to customers in more than 40 countries. Since entering the US market in 2011, the company has expanded its presence by developing products tailored to the requirements of US utilities. Hyosung Chair Cho Hyun-joon has also sought to deepen the company's relationship with Quanta as part of its broader push into the US power infrastructure market. The companies have discussed cooperation beyond circuit breakers, including direct-current power technologies. "Our two companies have built a strong partnership through collaboration across a range of projects, from supplying circuit breakers and substation equipment to supporting power transmission and renewable energy integration projects," said Cho. "As the rapid growth of AI increases the need for grid upgrades, we will draw on the experience gained from localizing our US operations. Together with this new joint venture, we aim to strengthen Hyosung's position as a total solutions provider in the US power market," he said. Hyosung has been bolstering its US manufacturing capacity as demand for power equipment rises. Its ultra-high-voltage transformer plant in Memphis, Tennessee, has become a key manufacturing base in the US. Hyosung has invested about $300 million in the facility, including its acquisition and subsequent expansion project. Once the latest expansion is completed, the Memphis plant is expected to have one of the largest transformer production capacities in the US. Earlier this year, Hyosung Heavy Industries secured a power equipment supply contract of about $540 million from a major US transmission grid operator, the largest such contract awarded to a South Korean power equipment manufacturer. The expansion comes amid expectations of continued growth in the North American circuit breaker market. Global Market Insights estimates the market will expand at a compound annual growth rate of 6.7 percent, from $4.8 billion in 2024 to $9.6 billion by 2034. [email protected]

The added investment from Renown Capital Partners and Keyframe Capital will enable Utilidata to rapidly execute upon its commercial growth strategy and expand its workforce

Why Quanta (PWR) stock is up today. Kayode Omotosho What happened? Shares of infrastructure solutions provider Quanta (NYSE:PWR) jumped 4.6% in the afternoon session after Piper Sandler upgraded the stock to Strong-Buy, citing strong demand for artificial intelligence power infrastructure and grid modernization. The upgrade highlighted Quanta's positioning to benefit from substantial energy requirements driven by data centers and ongoing electrical grid enhancements. Investor confidence was further reinforced by the company's record $53.4 billion project backlog, as well as the appointment of Ellen Rubin to its board of directors per TipRanks. In addition to company-specific catalysts, the stock benefited from a broader sector-wide rally as institutional capital rotated into infrastructure and electrical services providers. After the initial pop, the shares cooled down to $646.95, up 4.6% from the previous close. What is the market telling us. Quanta's shares are quite volatile and have had 17 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock gained 14.7% on the news that the company reported record first-quarter 2026 results that significantly exceeded analyst expectations and raised its full-year financial outlook. The infrastructure services provider posted adjusted earnings per share of $2.68, well above the consensus estimate of $2.03 and a substantial increase from $1.78 in the same quarter of the previous year. Revenue for the quarter reached $7.87 billion, a 26.3% year-over-year increase, handily surpassing estimates of $7.06 billion. In addition to the strong quarterly performance, the company's total backlog hit a record $48.5 billion. Based on the strong start to the year, Quanta raised its full-year 2026 guidance, now forecasting revenue between $34.7 billion and $35.2 billion and adjusted diluted earnings per share in the range of $13.55 to $14.25. Quanta is up 47.1% since the beginning of the year, but at $646.95 per share, it is still trading 17.6% below its 52-week high of $785.24 from May 2026. Investors who bought $1,000 worth of Quanta's shares 5 years ago would now be looking at an investment worth $5,618. ALSO WORTH WATCHING: Nvidia's Quiet Partner. Nvidia's chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all. Every AI server needs specialized infrastructure the chip companies don't make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.