Taihan Cable & Solution(001440) said on the 15th that its U.S. subsidiary, T.E.USA, won a turnkey (design and construction on an all-in-one basis) contract for an ultra-high-voltage power grid project in the local market.
Under this project, the U.S. subsidiary will oversee the overall project, including local engineering and construction, while Taihan Cable & Solution headquarters will produce and supply key materials such as ultra-high-voltage cables and accessories.
To that end, Taihan Cable & Solution headquarters and the U.S. subsidiary signed a 120 billion won contract for material supply.
Details such as the total value of the turnkey project, including construction and engineering, and the client were not disclosed under a nondisclosure agreement with the client.
A Taihan Cable & Solution official said, "This order is significant in that it proves the business execution experience and technological competitiveness we have accumulated in the U.S. power grid market."
In January, Taihan Cable & Solution won a 100 billion won ultra-high-voltage turnkey project in the United States, continuing its performance in the local market.
It won all underground power grid projects for 500kV HVAC (high-voltage alternating current) ordered in the United States and also secured a contract to supply 320kV HVDC (high-voltage direct current) cables.
Recently in the United States, demand for electricity has been rising rapidly due to the growth of the artificial intelligence (AI) industry and the increase in data centers, expanding investment in replacing aging power grids and building new ones.
Taihan Cable & Solution plans to strengthen its position in the ultra-high-voltage cable market while also expanding orders for high value-added products such as HVDC and submarine cables.
Source: Chosunbiz
