DaeHan Electric Wire Secures Consecutive US Power Grid Contracts... "Cumulative Orders This Year Reach 190 Billion Won"

230kV Underground Power Network Supply

[Asia Economy Reporter Jin-ho Kim] Daehan Electric Wire & Cable is continuing its winning streak in the United States. Notably, the cumulative order amount as of early March this year is approaching two-thirds of last year's total annual orders.

Daehan Electric Wire & Cable announced on the 3rd that its U.S. subsidiary, T.E.USA, has secured a high-voltage power grid supply project.

This large-scale project, worth approximately 60 billion KRW, is an additional achievement just two weeks after winning a three-year long-term project in the U.S. in mid-last month. The project involves supplying a 230kV underground power grid and is a critical initiative linking a large offshore wind power complex with the power system to stabilize electricity supply in major cities.

As the Biden administration is actively promoting policies to expand renewable energy, including offshore wind power, this linkage project is expected to be a positive factor for Daehan Electric Wire & Cable's future order growth.

Including this project, Daehan Electric Wire & Cable has achieved orders totaling about 190 billion KRW in the North American region as of early March. This surpasses two-thirds of last year's total annual orders (approximately 280 billion KRW), which was the highest order record since the establishment of the U.S. subsidiary.

A Daehan Electric Wire & Cable official stated, "Large-scale bids are continuing across the U.S., supported by the government's infrastructure expansion policies and the acceleration of renewable energy projects. We expect this year's order volume to significantly exceed last year's."

Meanwhile, the share of renewable energy generation in the U.S. is projected to rapidly increase from 21% in 2020 to 42% by 2050. In particular, offshore wind power is expected to expand mainly along the U.S. East Coast, with a generation capacity of 20GW predicted by 2030.

This content was produced with the assistance of AI translation services.