Daehan Electric Wire Wins $110 Million Contract for U.S. Aging Power Grid Replacement Project

Achieved Cumulative Orders of 200 Billion KRW in the US This Year
Power Grid Demand Expected to Expand Due to Growth in AI and Semiconductors

Daehan Electric Wire announced on the 29th that it has secured a project worth approximately 110 billion KRW to replace aging power grids in the United States. This is the largest project Daehan Electric Wire has ever secured in the U.S.

With this order, Daehan Electric Wire has achieved cumulative orders worth about 200 billion KRW in the U.S. this year alone. This amount is half of the annual cumulative orders (approximately 400 billion KRW) achieved in 2022, which was the highest performance since entering the U.S. market, accomplished within just the first quarter.

A site in downtown New York where Daehan Electric Wire's 'Directional Installation Method' has been applied.
[Photo by Daehan Electric Wire]

This project involves replacing the aging power grid with a new one in the Florida region located in the southeastern United States, in preparation for increased power demand. Daehan Electric Wire will remove the existing cables and supply a 230kV ultra-high voltage power grid on a full turnkey basis. The full turnkey approach involves comprehensive execution from power grid design to production of cables and connectors, electrical work, civil engineering, and testing, requiring high technical expertise and project management capabilities.

Daehan Electric Wire explained that it succeeded in securing this order due to its recognized capabilities from performing various projects in the U.S. Particularly, proposing new solutions for the aging power grid replacement project was a key factor in advancing the project. In fact, the New York project secured at the end of last year introduced a patented new installation method in the U.S., showcasing construction technology optimized for urban areas.

Daehan Electric Wire expects to secure additional orders in the aging power grid replacement projects to be carried out in the U.S. More than 50% of the U.S. transmission power grid is aged, having been installed over 40 years ago, exceeding the replacement cycle.

A Daehan Electric Wire official stated, "In the U.S., large-scale projects to replace aging power grids are continuing due to rapidly increasing power demand driven by AI, semiconductor growth, and expansion of renewable energy," adding, "As a key supplier in the North American power market for several years, we expect to continue delivering results in line with the market expansion trend."