That may be a recloser.
If you live in a rural area, you have probably noticed the power blinking off for a few seconds.
The most common causes of faults on rural distribution lines are momentary faults caused by rodents or birds shorting the line to ground or by falling tree branches. The second most common cause of faults is either a bad short on a secondary circuit or a burned out transformer.
The recloser instantly opens the circuit in the event of any over-current and then recloses a few cycles or seconds later. If the fault is still present the recloser will open again after a few cycles. This may be repeated three times, giving the rodent or tree branch a chance to fall away from the line and clear the fault.
If the fault does not clear after three tries, it may be a shorted distribution transformer. The recloser will then close in for a longer time to try to clear the local fuse at he transformer.
After a total of five tries, the recloser will remain open until manually reset.
It has been a long time and I forget the typical recloser time settings. In any event the operation is controlled by a micro computer and the system engineer is free to program it any way he chooses.
BUT
Reclosers are typically single phase and that looks like a three phase unit.
There are some power systems that have a tendency to back feed into a fault from either a delta secondary or from a transformer that magnetically develops a phantom delta.
These systems would use three phase reclosers.
anorlunda may be correct and that may be an interrupter of some sort.
The odds are probably 90/10 in favour of Anorlunda's suggestion.