Daehan Electric Wire Wins 75 Billion KRW Overseas Ultra-High Voltage Project Contract

[Asia Economy Reporter Changhwan Lee] Korea Electric Wire is continuing its winning streak in ultra-high voltage power grid projects in overseas markets.

Korea Electric Wire announced on the 27th that it has consecutively secured ultra-high voltage cable supply projects in the Netherlands, Singapore, and Qatar.

All projects were commissioned by the respective countries' power authorities, totaling $63 million (approximately 75 billion KRW).

The project secured in the Netherlands involves constructing a 380kV ultra-high voltage power grid, the highest voltage in the Netherlands, to ensure smooth transmission of power generated from a large offshore wind farm on the southern coast.

Valued at about $13 million, this is the second order since opening the first export door to the Netherlands early last year. Since establishing its European branch in 2017, the company has been achieving significant results by securing ultra-high voltage power grid projects in the UK, Denmark, and other countries.

In Singapore, the company won a project to replace existing cables in the outer area of Jurong Island. Valued at approximately $20 million, it involves supplying 230kV ultra-high voltage cables and connection materials.

In Qatar, a country in the Middle East that demands the highest level of technology and quality, Korea Electric Wire additionally secured a project worth about $30 million. This project is for transmitting power generated from Qatar's first large-scale solar power plant, and involves turnkey construction of a 220kV ultra-high voltage power grid.

A Korea Electric Wire official stated, “Despite the COVID-19 situation, overseas orders are proceeding relatively steadily. The trust of client companies in Korea Electric Wire’s products and project execution capabilities, along with continuous communication during difficult times, has been the driving force behind these orders.”

He added, “Since the power grid construction industry is a national infrastructure industry, we will continue to secure orders and execute projects steadily to strengthen our competitiveness.”