Daekyung Electric Power Corporation wins $120 billion ultra-high-voltage power grid turnkey contract in the U.S., limited to "materials supply only"
Daekyung Electric Power Corporation has secured a large-scale ultra-high-voltage power grid turnkey project in the United States.
On the 15th, Daekyung Electric Power Corporation announced that its U.S. subsidiary, T.E.USA, had won a turnkey project for an ultra-high-voltage power grid in the United States. The value of the materials supply contract disclosed by the company on the same day is approximately 120 billion won.
Under this project structure, the U.S. subsidiary oversees the entire project, including local engineering and construction, while Daekyung Electric Power Corporation's headquarters produces and supplies key materials such as ultra-high-voltage cables and connectors. Details such as the total contract value of the turnkey project, which includes construction and engineering, and the client are not disclosed in accordance with a non-disclosure agreement.
In January this year, Daekyung Electric Power Corporation also secured an ultra-high-voltage turnkey project worth approximately 100 billion won in the United States. Additionally, the company has won all underground power grid projects for 500kV (kilovolt) HVAC (ultra-high-voltage alternating current transmission) issued locally and secured a supply contract for 320kV HVDC (ultra-high-voltage direct current transmission) cables.
Recently, in the United States, aging power grid replacement and new construction investments are expanding as electricity demand rises due to the growth of the AI industry and increased data center construction. Daekyung Electric Power Corporation 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.
A representative from Daekyung Electric Power Corporation stated, "As the importance of large-scale turnkey projects grows in the U.S. power grid market, we will further broaden our business opportunities within the market through this contract." The representative added, "We will actively respond to diverse customer needs, including large-scale turnkey projects, to further solidify our position in the U.S. market."
"This article was translated using AI and may differ slightly from the original."
Source: Money Today
