Daehan Electric Wire has secured an additional contract for a high-voltage power network project in the UK. This win reflects the company's strategy to expand its share in the overseas power infrastructure market, driven by the growing demand for renewable energy and the replacement of aging power grids in Europe.
According to industry sources, Daehan Electric Wire will supply a 132kV high-voltage cable system for a power network construction project in Scotland. The contract is valued at approximately 65 billion won (about $65 million).
The project is being led by global infrastructure firm Valour BT, aiming to enhance the stability of power supply in the northern region of Scotland by establishing new transmission lines.
The demand for reinforcing the transmission network in Scotland has been increasing due to rising power consumption and the need to respond to adverse weather conditions. As renewable energy installations grow across Europe, investments in transmission and distribution infrastructure to reliably connect these energy sources to the grid are also on the rise.
Including this latest contract, Daehan Electric Wire has secured four projects in the UK in the first half of this year, with a total contract value of around 100 billion won (approximately $100 million). The company attributes its success to its experience in major projects, such as the London Power Tunnel Phase 2 modernization initiative.
The UK is recognized as a rapidly growing market for high-voltage underground and submarine cables, driven by simultaneous expansions in offshore wind energy and the replacement of aging transmission networks.
Daehan Electric Wire plans to further expand its presence in the European power network market from its base in the UK. Europe is becoming a key export market for domestic cable companies, as investments in power grid modernization and renewable energy integration are progressing simultaneously.
A representative from Daehan Electric Wire stated, "Europe is a strategic market where the demand for underground and submarine cables is rapidly increasing due to the expansion of power networks and renewable energy. We aim to leverage our accumulated project experience and technological competitiveness to expand our global market share."
* This article has been translated by AI.
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