Commercialization of Next-Generation Ultra-High Voltage Cables Including HVDC
Hanwha Solutions is partnering with Daehan Electric Wire to localize ultra-high voltage cable materials and accelerate commercialization to expand their global market presence.
On the 26th, Hanwha Solutions announced on the 27th that it signed a memorandum of understanding (MOU) for mutual cooperation aimed at expanding the global market with Daehan Electric Wire at its headquarters in Hanwha Building, Jung-gu, Seoul. The signing ceremony was attended by Nam Ihyun, CEO of Hanwha Solutions Chemical Division, and Song Jongmin, Vice Chairman of Daehan Electric Wire, among others.
Hanwha Solutions signed a business agreement (MOU) for mutual cooperation aiming to expand the global market with Daehan Electric Wire on the 26th at the Hanwha Building in Jung-gu, Seoul. From the left, Song Jong-min, CEO of Daehan Electric Wire, and Nam Yi-hyun, CEO of Hanwha Solutions (Photo by Hanwha Solutions)
They will establish a strategic partnership for global business cooperation and jointly promote the development of high value-added products such as HVDC (High Voltage Direct Current Transmission), ultra-high voltage cable materials (XLPE, semiconductive), and the expansion of sales networks.
Hanwha Solutions plans to further improve the quality of its cable materials and focus on increasing export ratios through joint marketing. Daehan Electric Wire intends to leverage Hanwha Solutions’ expertise in the renewable energy sector to explore business opportunities for building power grids within eco-friendly industries such as solar and wind power.
The ultra-high voltage cable materials independently developed by Hanwha Solutions have high technical entry barriers and high added value. XLPE, used as insulation for cables, was domestically produced at the 400-kilovolt (kV) level for the first time by Hanwha Solutions, and sales are expanding to major domestic and international cable companies. Additionally, based on the successfully localized EBA, they have established semiconductive compound facilities, a core material for ultra-high voltage cables, and plan to commence commercial production in the second half of the year.
CEO Nam Ihyun stated, "As global electricity demand rapidly increases, cooperation to strengthen the competitiveness of domestic products has become very important. We will utilize the core competencies and technologies of both companies to develop world-class products and expand our global market share."
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