Iljin Electric Wins Additional KRW 187.1 Billion Order in the United Kingdom; Wire Business Sets Largest-Ever Record

[Financial News] Iljin Electric has secured another mega-sized order in the United Kingdom, setting a new record for the largest single project in its wire business since the company was founded.
Iljin Electric disclosed on the 2nd that it had won an additional contract to build underground ultra-high-voltage transmission lines as part of the UK's offshore wind power grid expansion project. The order is worth approximately £104 million, or about KRW 187.1 billion.
The company said, "Including the KRW 84.5 billion order announced in July, this brings the total value of Iljin Electric's mega-sized orders from this UK offshore wind power grid expansion project alone to KRW 271.6 billion." The amount is the largest ever for a single project since Iljin Electric began its wire business.
The newly contracted project involves building underground transmission lines linking the UK's offshore wind farms. Including the section it previously won, Iljin Electric will be responsible for constructing the entire underground transmission line. The company will take on a central role in the infrastructure for renewable energy expansion and power grid decarbonization, both key priorities of the UK government.
Through these consecutive large-scale orders, Iljin Electric is expected to cement its position as a key partner in the UK's ultra-high-voltage transmission market.
Earlier this year, ahead of this project, Iljin Electric signed an agreement to join the "long-term supply chain partnership" of one of the UK's leading major power companies developing the project. This is understood to mean that the company's technological capabilities and reliability have been validated in the UK's power market, where technical and quality barriers to entry are exceptionally high.
Building on this, Iljin Electric has further consolidated its position in the UK's ultra-high-voltage transmission market and is now positioned to pursue opportunities to participate in large-scale projects that will be rolled out sequentially in the future.
An Iljin Electric official said, "This additional order is a landmark achievement that will mark the biggest milestone in the history of Iljin Electric's wire business. Based on our proven ultra-high-voltage technology and construction capabilities, we will actively pursue large-scale projects across Europe, which is entering a major transformation of its ultra-high-voltage transmission grids, beyond the UK, and work to deliver even greater results."
[email protected] Im Su-bin Reporter