Taihan Cable & Solution said on the 4th it will supply extra-high-voltage cables and related accessories for a power grid construction project in Scotland, United Kingdom. The project, led by global infrastructure group Balfour Beatty, is worth about 65 billion won.
The project will build a new 132-kilovolt (kV) transmission line in northern Scotland to strengthen the stability of the region's power infrastructure. As electricity demand continues to rise in Scotland, the core goal is to expand the transmission network to ensure stable power supply even during severe weather or unexpected situations.
Including this project, Taihan Cable & Solution secured four contracts in the United Kingdom in the first half of the year alone, winning about 100 billion won in new orders. A Taihan Cable & Solution official said, "This is the result of successfully carrying out major power grid projects, including London Power Tunnels 2, a key project to modernize the power grid in the capital London, proving our technological capabilities and quality competitiveness."
Taihan Cable & Solution plans to leverage its project experience and references to actively expand business opportunities not only in the United Kingdom but across Europe and to seize growth opportunities stemming from increased global investment in power grids. It also intends to actively participate in energy transition and power grid modernization projects in Europe, drive export growth for Korea's cable industry, and contribute to strengthening the nation's industrial competitiveness.
A Taihan Cable & Solution official said, "Europe is a strategic market where demand for underground and submarine cables is rapidly increasing due to grid expansion and the growth of renewable energy," adding, "Based on our accumulated project experience and technological competitiveness, we will expand orders in Europe and other global markets and contribute to the global energy transition and power grid stabilization."