Daehan Electric Wire has secured a $1.4 billion contract for a high-voltage power network project in Singapore. The company has been expanding its presence in the Singapore market, having won approximately $9 billion in contracts over the past two years, driven by the demand for AI data center expansion and power network modernization.
According to industry sources, Daehan Electric Wire will supply 400kV and 230kV O.F. high-voltage cable systems to the Singapore Power Authority. The contract is valued at about $1.4 billion.
The 400kV system represents the highest voltage level used in Singapore's power network. To undertake this project, the company must demonstrate technology and supply capabilities equivalent to 500kV systems. Daehan Electric Wire has established its competitiveness in the high-voltage power network market, having developed the country's first 500kV power network and supplied it to the U.S. and other countries.
The O.F. cables included in this project are designed with insulating oil inside to enhance insulation performance. Due to the complexity of the production process and maintenance, these high-value products are supplied by only a few companies globally.
Including this latest contract, Daehan Electric Wire has won projects worth about $9 billion in Singapore over the past two years. The company claims to hold the top market share in the local high-voltage power network sector for systems above 400kV.
Singapore is increasing investments in AI data centers, power network modernization, and renewable energy integration. As the number of AI data centers, which consume significant power, grows, the demand for stable transmission networks and high-voltage cables is expected to rise.
Daehan Electric Wire plans to expand its high-voltage cable, HVDC, and submarine cable businesses in overseas power network markets, including Singapore. The company aims to strengthen its export competitiveness in high-value cables in line with the increasing global investments in power networks.
A representative from Daehan Electric Wire stated, "This contract demonstrates that Daehan Electric Wire is establishing itself as a key player in the Singapore power network market. We will enhance our technological edge in high-voltage cables, HVDC, and submarine cable sectors to aggressively target high-value markets."
* This article has been translated by AI.
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