“Vice Chairman Song Jong-min of Taihan Electric Wire is signing an HVDC framework contract with National Grid. (Provided by Taihan Electric Wire)”
Taihan Electric Wire announced on the 14th that it has signed a high-voltage direct current (HVDC) cable system framework agreement with the British electricity transmission and distribution company, National Grid.
A framework agreement is a long-term contract that stipulates the provision of services or goods under specified conditions over a set period.
Taihan Electric Wire explained that by entering into a framework agreement with National Grid in the cable system sector, it has secured the opportunity to participate in a business valued at approximately 21.3 billion pounds (about 40 trillion won).
National Grid has entered into contracts with six global companies, including Taihan Electric Wire, from Europe, Japan, and other regions. Taihan Electric Wire will participate in the bidding for National Grid’s projects involving 525kV and 320kV-class HVDC cable systems, starting in 2025, for up to 8 years.