Replacement of Aging Power Grid in Eastern England
Continuous Expansion of Business Opportunities with Balfour Beatty
Daehan Electric Wire has secured a large-scale overseas project worth 100 billion KRW at the beginning of the new year.
Daehan Electric Wire announced on the 10th that it will supply a 400kV power grid for an aging power network replacement project being promoted by global infrastructure group Balfour Beatty in eastern England, UK. This project involves replacing the aging power network near the Suffolk and Essex regions with a 400kV ultra-high voltage power grid to strengthen the power infrastructure in the eastern region of England. Daehan Electric Wire will supply all related materials, including 400kV ultra-high voltage cables and power equipment.
This project order is part of the 'Partnership Agreement (MOU) for Power Transmission and Distribution Business' signed with Balfour Beatty in November 2023. Through this MOU, both companies agreed to jointly participate in bids for power transmission and distribution projects totaling over 220 million pounds (approximately 395 billion KRW) in the UK by 2030. In fact, since the MOU, Daehan Electric Wire has maintained a close partnership by contracting a total of three projects with Balfour Beatty.
Workers are moving the extra-high voltage cables exported by Daehan Electric Wire to Europe using equipment. Photo by Daehan Electric Wire
Through this order, Daehan Electric Wire has once again proven its competitiveness in the European market. Following the order for a 110 billion KRW 420kV ultra-high voltage power grid project in Sweden last December, Daehan Electric Wire has additionally secured a 40 billion KRW 400kV ultra-high voltage power grid project in the UK.
A Daehan Electric Wire official stated, "Europe is a region where power infrastructure investment is expanding due to carbon neutrality goals, offering continuous business opportunities. Based on our successful experience in various projects in Europe, including the large-scale London tunnel construction project LPT2, as well as in Germany and the Netherlands, we plan to increase our orders in Europe."
Daehan Electric Wire began targeting the European market by establishing its UK branch in 2017. In 2019, it expanded its organization into a European headquarters and established a corporation in the Netherlands to strengthen localization strategies. Currently, it operates four branches in Denmark, Sweden, the UK, and a corporation in the Netherlands.
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