Taihan Cable wins $87.1 million US grid supply deal

Taihan Cable & Solution said Thursday it has secured a 117 billion won ($87.3 million) supply contract tied to a high-voltage power grid project in the United States.

The contract covers ultra-high-voltage cables and connection materials that Taihan's Korean headquarters will produce and supply to Taihan Electric USA, its American subsidiary, which is handling the US project as a turnkey contractor overseeing engineering and construction. The company said the identity of the final client and the full value of that turnkey project remain undisclosed under a nondisclosure agreement, so the reported contract amount covers only the materials portion.

The supply runs through the end of December 2028, according to a regulatory filing. The contract is equivalent to 3.2 percent of Taihan's recent annual revenue of 3.64 trillion won ($2.72 billion).

The order adds to a run of US wins this year. Taihan said it secured an ultra-high-voltage turnkey project worth about 100 billion won ($74.7 million) in the United States in January, and that it has taken every 500kV HVAC underground transmission project put out to tender in the country. It also holds a contract to supply 320kV HVDC cables.

US power demand is climbing fast as the artificial intelligence industry expands and data centers multiply, spurring investment in replacing aging grids and building new transmission capacity. That backdrop has raised the profile of large turnkey projects, in which a single contractor takes responsibility for a transmission link from design through construction.

The company said it plans to strengthen its position in the ultra-high-voltage cable market while expanding orders for higher-value products such as HVDC and submarine cables.

"As large turnkey projects become more important in the US power grid market, we will use this order as a stepping stone to broaden our business opportunities in the market," a Taihan official said. "We will respond actively to diverse customer demand, including large turnkey work, to further cement our position in the US market."