Key Points:
- Taihan Cable & Solution Co. secured three new power grid projects in the US worth 130 billion won ($94.1 million).
- The company has achieved over 330 billion won ($239 million) in new orders in the US this year, surpassing 80% of its 2022 record.
- The projects include a 345-kilovolt power grid for a semiconductor plant in New York State and two medium- and low-voltage projects in Los Angeles, California.
- The successful contracts highlight the company’s growing presence in the US market and its capability to deliver advanced power solutions.
On Tuesday, South Korea’s Taihan Cable & Solution Co. announced that it has successfully secured three consecutive power grid projects in the United States. The total value of these contracts amounts to 130 billion won ($94.1 million).
These new contracts boosted Taihan Cable’s total new orders in the US to over 330 billion won ($239 million) for the year. This figure represents over 80% of the company’s record annual order volume of 400 billion won ($290 million) in 2022, the highest since the company entered the US market.
The newly awarded projects include one extra-high voltage project and two medium- and low-voltage projects. The extra-high voltage project, valued at 45 billion won ($32.6 million), involves constructing a 345-kilovolt (kV) power grid for a new semiconductor plant in New York State. This project is critical for supporting the infrastructure needs of the rapidly expanding semiconductor industry in the region.
The two medium and low-voltage projects, with a combined value of 85 billion won ($61.5 million), will be implemented in the Los Angeles area of California. These projects will enhance the local power infrastructure, addressing current and future energy demands in one of the country’s most populous and economically significant regions.
Taihan Cable’s success in securing these projects highlights the company’s growing presence and competitiveness in the US market. By winning contracts for power grid constructions, renewable energy linkage projects, and the replacement of aging power grids, Taihan Cable is establishing itself as a key player in the American energy sector.
The strategic focus on major cities on both the East and West coasts reflects Taihan Cable’s commitment to expanding its footprint in the US. The company’s involvement in these diverse projects underscores its capability to deliver advanced and reliable power solutions that meet the complex needs of modern urban and industrial environments.
The recent contract wins also signal a positive outlook for Taihan Cable’s business performance, potentially leading to further growth opportunities in the US and other international markets. As the demand for robust and efficient power infrastructure continues to rise, Taihan Cable is well-positioned to capitalize on these trends with its expertise and innovative solutions.
