South Korean Taihan Cable & Solution Signs Framework Agreement with National Grid UK

South Korean Taihan Cable & Solution has recently inked a framework agreement with UK power transmission giant National Grid UK. This agreement solidifies Taihan’s participation in high-voltage direct current (HVDC) cable systems projects valued at approximately £21.3 billion over a span of up to eight years.

National Grid’s strategic move to secure framework agreements in HVDC cable systems and converter stations aims to ensure a stable supply chain amidst expected shortages in the HVDC market. The agreements cover projects estimated at a total value of £59 billion (KRW 110 trillion), with plans for over 15 submarine and underground HVDC projects in the pipeline over the next eight years.

Expanding Business Horizons

Through the framework agreement signed on March 14, Taihan gains access to business opportunities worth approximately £21.3 billion (KRW 40 trillion) in the HVDC cable sector. This positions Taihan to bid for 525 kV and 320 kV HVDC cable system projects led by National Grid from 2025 onward for up to eight years.

Being recognized as a key player in the industry, Taihan has joined forces with six top-tier global companies from Europe, Japan, and other regions. This agreement signifies a monumental step for Taihan as it ventures into the European market.

Technological Competitiveness

Taihan’s Vice Chairman, Song Jong-min, expressed pride in the company’s technological prowess in HVDC cable systems, essential for the future power industry. “We are committed to enhancing the quality and reliability of our HVDC cable systems and bolstering our technological capabilities to seize business prospects not only in Europe but globally,” stated Song Jong-min.

Strategic Developments

In a significant milestone, Taihan secured its first 320 kV voltage-source HVDC cable project in the U.S. last September. The company is also making headway in constructing its second submarine cable plant to support HVDC submarine cable production. With the plant scheduled to commence operations in 2027, Taihan is focused on immediate HVDC submarine cable production post-commissioning.

Taihan’s acquisition of Korea’s only cable-laying vessel (CLV) for the offshore wind market in December 2023 further strengthens its position in the industry. The CLV, equipped with self-propulsion and a DP2 system, can carry up to 4,400 tons of underwater cables at once. A commissioning ceremony was held in July to mark this milestone.