South Korean wire and cable maker Taihan Cable & Solution said Friday that it has signed a framework agreement with National Grid to supply high-voltage direct current cable systems for the UK company’s power grid project.
To secure a stable supply chain in the HVDC market ahead of anticipated shortages, National Grid has signed the agreement for both cable systems and transformers.
The total project volume is estimated at 59 billion pounds ($76.2 billion), with more than 15 submarine and underground HVDC projects planned over the next eight years.
As part of the agreement, Taihan has secured an opportunity to join projects worth about 21.3 billion pounds. Starting this year, the company will be eligible to bid for 525 kilovolt and 320kV cable system projects.
“This agreement is highly meaningful as it recognizes the technological competitiveness of Taihan’s HVDC cable systems in the advanced European power market,” said Vice Chairman Song Jong-min.
“We will continue to enhance the quality reliability and technical capabilities of our HVDC cable systems, further expanding our business opportunities not only in Europe but also in global markets.”
spark@heraldcorp.com
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