Taihan Cable & Solution Co. announced on March 6 that it is set to supply a high-voltage power grid worth approximately US$38 million to the global infrastructure group Balfour Beatty.
This project involves the construction of a new 132 kV high-voltage power grid in the northern region of the U.K. It aims to stabilize power supply and increase power transmission capacity by converting aging overhead lines into underground lines.
Taihan Cable & Solution entered into a memorandum of understanding (MOU) with Balfour Beatty in November last year, initiating mutual cooperation. As part of the MOU, both parties agreed to collaborate on joint bidding for power transmission and distribution projects worth over £220 million until 2030 in the U.K. They also committed to cooperating in technology sharing, product development, and other areas.
Subsequently, Taihan Cable & Solution secured a contract for a 400 kV high-voltage power grid construction project worth around US$27 million, marking its second achievement.
Balfour Beatty, a global infrastructure group headquartered in the U.K., boasts an annual revenue of 15 trillion won. Taihan Cable & Solution is involved in the engineering, procurement, and construction (EPC) of large-scale power grid projects, including supplying the entire 400 kV power grid for the LPT2 project. Both companies plan to continue exploring ongoing business opportunities and expanding their market based on their close cooperation relationship in the future.
An official from Taihan Cable & Solution stated, “We will continue to strengthen our business capabilities and expand our contracts in the future, focusing not only on Europe but also on countries facing a shortage of new power grids due to the growth of population, and artificial intelligence (AI) and semiconductor industries, such as the United States and the Middle East.”