Taihan Cable & Solution (001440.KS) is accelerating its push into North America after winning a large ultra-high-voltage power grid project in the United States. The company is strengthening its order competitiveness around large turnkey projects as grid investment in the U.S. expands on the back of growth in the artificial intelligence industry and the spread of data centers.
T.E.USA, the company's U.S. subsidiary, won the ultra-high-voltage grid project on a turnkey basis, Taihan Cable said on Oct. 15.
Under the arrangement, the U.S. unit oversees the entire project locally, including engineering and construction, while Taihan Cable's headquarters produces and supplies key materials such as ultra-high-voltage cables and accessories.
The headquarters signed a materials supply contract worth about 120 billion won ($82 million) with the U.S. unit and disclosed the terms in a regulatory filing the same day. The total value of the project, including construction and engineering, as well as the identity of the client, were not disclosed under a confidentiality agreement.
Taihan Cable has continued to post results in the U.S. market, winning an ultra-high-voltage turnkey project worth about 100 billion won there in January this year.
The company has won every 500-kilovolt high-voltage alternating current (HVAC) underground grid project tendered in the U.S. and has also secured a supply contract for 320-kilovolt high-voltage direct current (HVDC) cable, earning recognition for its technology in ultra-high-voltage transmission.
Growth in the U.S. grid market is also working in the company's favor. Investment in new transmission networks and replacement of aging grids is expanding as AI data center construction and industrial power demand increase.
In response to that demand, Taihan Cable plans to strengthen its position in the ultra-high-voltage cable market while broadening its business into higher-value products such as HVDC and submarine cables.
"As large turnkey projects become more important in the U.S. grid market, we will use this order as a springboard to widen our business opportunities in the market," a Taihan Cable official said. "We will respond actively to a range of customer needs and solidify our position in the U.S. market."