The Cuban government, significantly alleviating its power shortages thanks to this equipment by HD Hyundai Heavy Industries, expressed its gratitude by featuring the power generators on its national currency. (Image provided by HD Hyundai Heavy Industries)
SEOUL, Mar. 11 (Korea Bizwire) – The recent establishment of diplomatic relations between Cuba and South Korea, marking Cuba as the 193rd country to formalize ties with Seoul, has been welcomed by HD Hyundai Heavy Industries.
About two decades ago, in the absence of diplomatic relations, the company played a pivotal role in opening economic and diplomatic channels by supplying Cuba with hundreds of Packaged Power Stations (PPS).
These PPS units, compact enough to fit in a 12-meter container, include an engine, generator, and auxiliary equipment, designed for easy transportation and installation.
The Cuban government, significantly alleviating its power shortages thanks to this equipment, expressed its gratitude by featuring the power generators on its national currency.
In 2005, HD Hyundai Heavy Industries supplied Cuba with 464 power generating units, including 1.7MW PPS equipped with the company’s robust engine. This contribution accounted for about 30% of Cuba’s total power production at the time, with the contract valued at $700 million (approximately 917 billion won).
The deal was notable not only for its scale but also because it was secured amid competition from leading power equipment suppliers from countries like Germany and Japan, highlighting the suitability of the easily transportable and installable PPS for Cuba’s challenging power infrastructure.
The creativity of the PPS caught the attention of Cuba’s then-leader, Fidel Castro, chairman of the Council of State, leading to the Cuban government commemorating the “Energy Revolution” by depicting a set of PPS units on the back of a 10-peso note in 2007.
Industry and diplomatic circles view this project as a significant step forward in the relationship between the two countries. HD Hyundai Heavy Industries is exploring further business opportunities in Cuba.
A company spokesperson stated, “As long as the U.S. sanctions against Cuba remain in effect, no immediate significant changes are expected. However, as government-led exchanges between the two countries gradually expand and if U.S. sanctions against Cuba are lifted or eased, we anticipate opportunities for cooperation in the renovation and replacement of existing power plants.”
M. H. Lee (mhlee@koreabizwire.com)
