Taihan Cable wins $24 million deal to build power grid in California

The company has so far this year clinched a record $300 million worth of orders for power grids in North America

Taihan Cable's power cables being installed in the US
Taihan Cable's power cables being installed in the US
Sungsu Bae 1
Nov 16, 2022 (Gmt+09:00) baebae@hankyung.com
Energy

Taihan Cable & Solution Co., a South Korean electric wire maker, said on Wednesday it has won a $24 million deal to build a power grid in the US state of California.

Taihan Cable, formerly known as Taihan Electric Wire Co., said the contract is one of its biggest power grid construction deals in the US.

The deal won by Taihan’s US subsidiary, T.E. USA, is to build a power facility in connection with a large-scale solar power plant to be built in the eastern desert of California. For the project, the Korean company will supply 230 kilovolt-class extra-high voltage underground power lines.

The latest deal comes after a similar power grid construction contract it clinched in March for an offshore wind farm on the eastern coast of the US.

Taihan Cable & Solution's plant in Dangjin, South Chungcheong Province
Taihan Cable & Solution's plant in Dangjin, South Chungcheong Province

Taihan Cable’s power grid construction orders in North America have reached $300 million, including the latest $24 million contract, so far this year. Last year, the company’s deals in the region stood at $240 million.

The demand for power infrastructure in the US is growing rapidly in recent months as energy companies are aggressively moving to build eco-friendly energy systems to receive state subsidies following the implementation in August of the Inflation Reduction Act (IRA).

“We plan to roll out more extra-high voltage cables as well as medium and low-voltage power lines in the US,” said a company official. “We’re also looking to clinch deals for renewable energy-related products such as underground cables and solar energy cables.”

Write to Sungsu Bae at baebae@hankyung.com
In-Soo Nam edited this article.
#Taihan Cable & Solution #Taihan Cable #underwater cable #power grid #California #IRA #Inflation Reduction Act #T.E.USA

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