Taihan Cable & Solution (Taihan) announced today that its American subsidiary, T.E. USA has won an order for an extra-high voltage power grid supply project.
This is a project worth about 60 billion won, and it was achieved in about a month and a half after winning a three-year long-term project in the middle of last month in the United States.
This project is to supply a 230kV underground power grid, and it is an important project that connects large-scale offshore wind farms and power systems to stabilize power supply and demand in large cities.
As the Biden government's policy to expand new and renewable energy, including offshore wind power, is in full swing, this joint project is expected to be a positive factor in expanding Taihan's orders in the future.
Including this project, Taihan has achieved orders worth about KRW 190 billion in North America so far in early March.
"Large-scale bidding is continuing across the United States thanks to the US government's infrastructure expansion policy and the trend of full-fledged new and renewable energy business," said a Taihan official. "As the US subsidiary is actively participating in the bidding, the order volume this year is expected to greatly exceed that of last year."
“By establishing a new subsea cable plant in Dangjin, Chungcheongnam-do, we will speed up our attack on the continuously expanding US offshore wind power market,” he added.
Meanwhile, the share of renewable energy generation in the United States is expected to rapidly increase from 21% in 2020 to 42% in 2050.
