Balfour Beatty and Taihan Cable & Solution Company are already working together on National Grid’s London Power Tunnels 2 project. Taihan Cable has a £55m contract to supply 400kV cables.
Taihan also has a £22m contract with Balfour Beatty on a National Grid project to bury powerlines in the North Wessex Downs.
The memorandum of understanding will see Balfour Beatty work with Taihan on other onshore power transmission and distribution projects across the UK.
Taihan told a press conference in Seoul last week that it expects to generate £220m of contracts through its Balfour Beatty hook-up by 2030.
Taihan Cable, part of the Hoban Group, has been producing power cables for 70 years in South Korea. Its products include extra-high voltage cross-linked polyethylene (XLPE) cables.
Balfour Beatty chief technology officer Chris Johnson said at the signing event: “This latest partnership with Hoban Group is built on true collaboration and will further strengthen our ability to deliver high quality sustainable solutions for large-scale onshore power transmission and distribution projects.”
Hoban Group chairman Kim Sun Kyu said “The partnership will strengthen the strategic relationship two parties have been developing and we will deliver collaborative business models such as exchange of technical knowledge and resources.”
This is Balfour Beatty’s third overseas supplier partnership deal signed in the past 13 months, suggesting that it is a clear company strategy.
Balfour Beatty said that its partnership with Taihan Cable built on the memoranda of understanding that is signed last year with Hyundai and Holtec (in October 2022) to promote the construction of Holtec’s SMR-160 pressurised light-water reactors in the UK, and with Aker (in December 2022) to install foundations for offshore wind turbines.
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