Daehan Electric Wire Wins 110 Billion KRW Ultra-High Voltage Power Grid Order in Sweden... Accelerating Growth in Europe

Highest Voltage Local Underground Cable
420kV Power Grid Construction Project
High Difficulty Project Successfully Awarded Through Rigorous Review
Achievements Secured in Europe Following the US and Asia

Daehan Electric Wire announced on the 10th that it has signed a contract with the Swedish state-owned power company for an ultra-high voltage power grid construction project.

Accordingly, Daehan Electric Wire will undertake a project to build a 420kV underground power grid passing through the city center of Stockholm, the capital of Sweden. The contract is worth approximately 110 billion KRW. The company explained that this contract is particularly meaningful as it proves their competitiveness in Europe, the birthplace of cables.

Daehan Electric Wire is taking a commemorative photo after signing a contract with the Swedish Power Authority. From the right in the front row: Nam Jeong-se, Executive Director of Energy Overseas Business Division at Daehan Electric Wire, Lotta Medelius-Bredhe, CEO of the Swedish Power Authority. Photo by Daehan Electric Wire

The Swedish power company has been promoting a project to build an underground power grid for several years in preparation for the rapid increase in electricity demand within Stockholm, and has entrusted Daehan Electric Wire with this important task. Daehan Electric Wire will carry out a project connecting the Anneberg area in the north of Stockholm and the Skanstull area in the south with a 420kV ultra-high voltage power grid. They will supply all related materials including 420kV cables and power equipment, and will also conduct connection work and completion tests.

The 420kV power grid is the highest voltage among underground AC cables used in Sweden. Strict evaluations were required during the selection of the contractor to ensure the stability and reliability of the power grid. Amid this, Daehan Electric Wire succeeded in winning the final bid by achieving excellent scores in comprehensive evaluations including technology, quality, engineering capabilities, and project management skills.

With this Swedish project, Daehan Electric Wire has secured large-scale projects in the European market following the United States and Asia this year. In the U.S., they recorded new orders worth 720 billion KRW, and in Singapore, they secured a mega project worth 840 billion KRW, continuously achieving results in the global market. Based on this, Daehan Electric Wire recorded a record-high order backlog of 2.3258 trillion KRW as of the end of the third quarter.

A Daehan Electric Wire official said, "As a result of successfully carrying out projects in major European countries such as the UK, Germany, and the Netherlands, we were able to secure a large-scale project in Sweden, which is considered a demanding market," adding, "Through this contract, we expect to strengthen our position in the European market, where power grid demand is expected to continue expanding, and secure more business opportunities."