The agreement, finalized in February, grants Taihan eligibility to bid on National Grid’s HVDC cable system projects over a period that could extend up to eight years. The total project value is estimated at approximately 40 trillion won ($27.5 billion).
National Grid, a British multinational electricity and gas utility company, pursued the agreement to ensure a stable supply chain for HVDC cable systems and transformers amid surging global demand.
HVDC cable systems, essential for long-distance power transmission, are seeing increased demand due to the expansion of renewable energy infrastructure and the development of super grid networks connecting national power grids.
"This agreement reflects the competitiveness of our HVDC cable technology in Europe, a key market in the power industry," said Song Jong-min, vice chairman and CEO of Taihan.
The company previously secured its first HVDC project in the United States in September 2024, marking a significant step toward expanding its presence in European markets.
"We will continue to enhance the reliability and technological capabilities of our HVDC cable systems to strengthen our foothold not only in Europe but also in global markets," Song added.
reporter
Kim Dong-young
davekim0807@ajupress.com
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