Taihan Cable to bid for power distribution network in UK

South Korea's Taihan Cable & Solution Co. announced on Friday that it signed a memorandum of understanding (MOU) with the global infrastructure group Balfour Beatty to form a partnership for bidding underground power transmission and distribution projects in the UK. 

Under the MOU, both sides will jointly participate in bids for various power distribution network projects in the UK, totaling over £220 million ($276 million) until 2030. 

In line with the UK government's goal of achieving net zero by 2050, the companies will collaborate on the development of sustainable energy solutions, business models, and products.

As an initial outcome of the MOU, Taihan Cable secured a power grid project worth 36 billion won ($27.5 million). The project involves replacing overhead lines with underground lines in the North Wessex Downs area for the improvement of natural landscapes.

Balfour Beatty will handle the overall engineering, procurement, and construction (EPC), while Taihan Cable is responsible for supplying a 400 kV power grid and electrical work.

Write to Jeong-Soo Hwang at hjs@hankyung.com