South Korea’s Taihan Cable & Solution Co. reports that it has been awarded a project worth more than $80 million for replacement of an outdated power grid in the U.S.

Per a press release and multiple media reports, including The Korea Economic Daily, the project is designed to replace the aging power infrastructure with a new one in the southeastern state of Florida in anticipation of increasing power demand in the region. Taihan will be removing existing cables and supplying a 230 kV EHV power grid as a full turnkey service.

The press release said that winning the bid was helped by having a proven track record in executing projects in the U.S. Its proposal for the replacement of aging power grids was instrumental in moving the project forward. For the New York project secured last year, a unique installation method with a U.S. patent was introduced to showcase laying technology tailored to the urban environment.

By securing this deal, the company has brought its cumulative order value for the year to more than US$145 billion in the U.S. alone. “In just one quarter, Taihan has already achieved half of its record annual orders in the U.S. from fiscal year 2022 of nearly $290 million. While rising electricity consumption and the expansion of renewable energy sources are driving an increase in the demand for power networks across the U.S., over 50% of the existing transmission infrastructure has surpassed 40 years of service, exceeding its life cycle, giving rise to strong anticipation of additional orders to follow.