LS ELECTRIC strengthens its High Voltage Direct Current (HVDC) business partnership with GE Vernova to jointly target both domestic and global markets.
On January 24, LS ELECTRIC announced that it signed an MOU with GE Vernova at LS Yongsan Tower to cooperate in the global business of voltage-type HVDC.
At the signing ceremony, which was attended by Jae-seok Oh, COO of LS ELECTRIC Power CIC, and Johan Bindele, CEO of GE Vernova Grid Solutions Grid Systems Integration (GSI), the two companies agreed to jointly respond to the global market demand for HVDC by utilizing LS Electric's HVDC production infrastructure.
Under the agreement, the two companies will further strengthen their partnership by actively utilizing LS ELECTRIC's high-voltage transformer production infrastructure, including its Busan plant, to ensure timely delivery of products to global customers and leverage GE Vernova's global technology and presence to expand the domestic voltage-type HVDC market.
HVDC is a technology that converts alternating current electricity generated by power plants into high-voltage direct current electricity using power converters, transmits it, and converts it back to alternating current electricity at the point of use.
Compared to conventional alternating current, it is suitable for long-distance and large-capacity power supply, and its advantages are that it can control transmission and power flow and does not generate electromagnetic waves.
In particular, voltage-type HVDC can control real-time bi-directional power flow compared to current-type HVDC, and it is advantageous for grid operation and grid stabilization, so it has recently been introduced in large-scale renewable energy complexes in Europe and the United States.
GE Vernova's Grid Solutions is a global manufacturer of ultra-high voltage power equipment and HVDC headquartered in France, with a rapidly growing presence in Europe and the Americas, where the voltage-type HVDC market is expanding rapidly.
LS ELECTRIC has been leading the localization of core facilities since 2011, when it invested a total of 110 billion won to build Korea's first dedicated HVDC factory in Busan, where it can receive parts, perform performance inspections, assemble, test, and commission, and has recently expanded orders in overseas HVDC markets.
"We have been working closely with Vernova since 2013, when we participated in the domestic current-type HVDC business together," said Jae-seok Oh, President of LS ELECTRIC. "Based on this MOU, we will strengthen our competitiveness in the quality, cost, and delivery (QCD) of ultra-high voltage power equipment and grow together as an infrastructure company specializing in the future power industry."
