PR
Taihan Signs HVDC Framework Agreement with National Grid UK
- Secures participation opportunities in HVDC cable projects valued at approximately £21.3 billion (KRW 40 trillion) over up to eight years
- Vice Chairman Song Jong-min visits the UK: "We will penetrate the global market with our technological expertise."
- Achieves world-class underground HVDC technology; submarine HVDC cable production to commence in 2027.
Taihan Cable & Solution has demonstrated its technological competitiveness in the HVDC sector in Europe, a key hub of the global power industry.
The company announced on the 14th that it has signed a framework agreement with National Grid UK Limited, one of the UK’s leading power transmission and distribution companies, for high-voltage direct current (HVDC) cable systems. This agreement represents a major milestone in Taihan’s expansion into the European market.
National Grid pursued framework agreements in two areas—HVDC cable systems and converter stations—to ensure a stable supply chain amid anticipated shortages in the HVDC market. The total value of the projects covered by these agreements is estimated at £59 billion (KRW 110 trillion), with more than 15 submarine and underground HVDC projects planned over the next eight years.
Through this framework agreement, Taihan has secured access to business opportunities valued at approximately £21.3 billion (KRW 40 trillion) in the HVDC cable sector. The agreements were concluded with six top-tier global companies from Europe, Japan, and beyond. Taihan will be eligible to bid for 525kV and 320kV HVDC cable system projects led by National Grid from 2025 for up to eight years.
A framework agreement is a long-term contract that establishes predefined conditions for the supply of goods or services over a set period, ensuring stable collaboration based on mutual trust between the buyer and supplier.
To commemorate the signing of this agreement, Vice Chairman Song Jong-min personally visited National Grid’s headquarters in London last month to meet with key stakeholders and discuss future business plans.
Vice Chairman Song stated, “This is a highly significant contract that validates our technological competitiveness in HVDC cable systems—an essential technology for the future power industry—in the advanced European market. We will continue to enhance the quality and reliability of our HVDC cable systems and strengthen our technological capabilities to expand business opportunities not only in Europe but also in the global market.”
HVDC cable systems are a critical technology for long-distance power transmission and are in growing demand worldwide due to the expansion of renewable energy and supergrid interconnections. Due to the significant technical expertise and investment required, only a select group of global companies has successfully developed and produced HVDC cables.
Taihan was the first Korean company to develop both a 500kV current-source and 525kV voltage-source HVDC underground cable system (3,000SQ, 90°C operating temperature), obtaining international certification. In September last year, Taihan further strengthened its position in the global HVDC market by securing its first 320kV voltage-source HVDC cable project in the United States.
The company is also making steady progress on constructing its second submarine cable plant to support HVDC submarine cable production. In November last year, Taihan finalized the plant site in Dangjin, South Korea, further solidifying its strategic roadmap. The plant is set to begin operations in 2027, with R&D efforts focused on ensuring immediate HVDC submarine cable production upon commissioning.
