South Korean cable manufacturer Taihan Cable & Solution secured its largest-ever project in the United States, a $82 million (110 billion won) project to replace aging power grids in the U.S. on Mar. 29.
With this latest contract, Taihan Cable’s U.S. order book for the year increased to an accumulated 200 billion won. This represents half of the company’s record-breaking annual order intake of 400 billion won in 2022 in just the first quarter of this year.
This project aims to replace outdated power grids in Florida, a state preparing for a surge in electricity demand. The turnkey project involves Taihan Cable removing the existing cables and installing a new 230-kilovolt ultra-high voltage power grid. Taihan Cable will be in charge of the design, production of materials such as cables and connectors, electrical and civil construction and subsequent testing.
The company expects to win additional orders related to replacing aging power grids in the U.S. Over half of the U.S. transmission power grid is outdated, having surpassed 40 years since installation, and has exceeded its replacement cycle.
“The U.S. is undergoing large-scale projects to replace its aging power grid to accommodate the increasing demand for electricity driven by the rise of artificial intelligence (AI), semiconductors and renewable energy,” said a Taihan Cable representative. “As a major energy provider in the North American market, we will continue to expand business to keep up with demand.”
