On the 10th, Korea Electric Power Corporation announced that it will supply a 400-kilovolt (kV) power grid for an aging power grid replacement project being promoted by the global infrastructure group Balfour Beatty in eastern England. The contract amount is approximately 100 billion won.
This project aims to enhance the power infrastructure in eastern England by replacing the aging power grid near the Suffolk and Essex areas with a high-voltage power grid. Korea Electric Power Corporation will supply all related materials, including cables and power equipment.
The winning of this project is part of a memorandum of understanding (MOU) signed with Balfour Beatty in November 2023 to establish a partnership for transmission and distribution projects. The two companies agreed to jointly participate in bidding for a total of over £220 million (approximately 360 billion won) in transmission and distribution network projects to be conducted in the UK by 2030. Korea Electric Power Corporation has maintained its partnership by contracting a total of three projects with Balfour Beatty since the MOU.
A representative of Korea Electric Power Corporation noted, "Countries in Europe, including the UK, are expanding investments in power infrastructure to achieve carbon neutrality goals, so continuous business opportunities are expected in the region." They added, "Based on our experience in successfully executing various projects, including the large-scale LPT2 tunnel project in London, we plan to continue increasing our orders in Europe, including Germany and the Netherlands."