Taihan has successfully entered the Danish market, taking its competitiveness in Europe to the next level.
Taihan (Na Hyung-kyun, CEO) announced on April 4 that it has signed a contract with Energinet, Denmark’s state-run power transmission company, on the 3rd local time, to supply HV (High Voltage) underground power grids.
Under the agreement, Taihan, as a major supplier for Energinet of 145-170 kV underground power grids, participates in orders and bids until March 2028. It supplies cables and cable accessories and carry out local installation and connection. Taihan expects to supply more than 25% of the orders placed by Energinet over the next eight years.
The deal is significant in that it is Taihan’s first move to Denmark. In particular, winning an eight-year long-term contract for the first project reflects that Taihan’s technology and price competitiveness began to be recognized in the European market. In fact, since the establishment of its European branch office in 2017, Taihan has been expanding its European market by winning orders for extra high-voltage cable projects in the Netherlands, Sweden and the United Kingdom.
“Energinet is a well-known state-run power transmission company in Europe. This order will be a good opportunity for us to expect orders from other major countries such as Germany and Norway.” said an official from Taihan. He said “We expect to be able to hit the European market, as we has taken our first step in Denmark, despite the competition with leading European companies.”
Image source: Courtesy of Taihan
Read more Power cable news here