Taihan Cable Wins U.S. Ultra-High-Voltage Power Grid Turnkey Project, Signs 120 Billion Won Materials Supply Deal
U.S. subsidiary to oversee construction; headquarters to supply cables
Accelerating expansion into high-value-added submarine cables
Taihan Cable has won a 120 billion won project in the United States to deliver an ultra-high-voltage power grid, covering everything from engineering and construction to equipment supply.
Taihan Cable said in a filing on Thursday that its local subsidiary, T.E.USA, had won a turnkey contract to build an ultra-high-voltage power grid in the United States and that it had signed a materials supply agreement worth about 120 billion won between its headquarters and its U.S. subsidiary.
The project will be carried out through collaboration in which the U.S. subsidiary oversees the entire project, including local design and engineering, cable installation and construction, while the Korean headquarters manufactures and supplies ultra-high-voltage power cables and accessories. The parties agreed to keep the total contract value and the specific client confidential under a mutual nondisclosure agreement.
After winning an ultra-high-voltage turnkey project worth 100 billion won in the United States in January, Taihan Cable has further strengthened its foothold in the local market by securing this large-scale contract. In particular, it has built up a track record across the ultra-high-voltage transmission sector, winning a 500-kilovolt (kV) high-voltage alternating-current (HVAC) underground power grid project in the United States and securing the right to supply 320-kV high-voltage direct-current (HVDC) cables.
In the U.S. power market, infrastructure investments are underway to replace decades-old power grids and expand new main transmission lines, in response to a sharp rise in power consumption driven by the growth of artificial intelligence (AI) data centers. Taihan Cable plans to maintain its competitive edge in existing ultra-high-voltage underground cables while expanding its business into next-generation, high-value-added product categories, including HVDC and submarine cables.
HVDC is a method of transmitting alternating-current power generated at power plants after converting it into high-voltage direct current, then converting it back into alternating current at the receiving area. It is considered key to next-generation, high-capacity, long-distance power grids because it has low transmission losses and offers excellent stability for interconnecting power grids.
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A Taihan Cable official said, "As large-scale turnkey projects are becoming increasingly important in the U.S. power grid market, we will use this contract as an opportunity to further expand our business opportunities there. We will actively respond to diverse customer needs, including demand for large-scale turnkey projects, and further solidify our position in the U.S. market."
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