LS Electric establishes VSC-HVDC joint venture with GE Vernova
Through the establishment of the JV, the two companies plan to pursue cooperation in the VSC-HVDC market in Korea and develop joint offerings and strategies covering supply of key equipment and joint execution of HVDC projects in Korea.
South Korea’s LS Electric has signed a joint venture agreement for establishing a joint venture (JV) with global power infrastructure company GE Vernova to further strengthen its competitiveness in the Voltage-Sourced Converter (VSC)-HVDC (High-Voltage Direct Current) business.
Through the establishment of the JV, the two companies plan to pursue cooperation in the VSC-HVDC market in Korea and develop joint offerings and strategies covering supply of key equipment and joint execution of HVDC projects in Korea. They will establish a cooperative framework to support the development of Korea’s next-generation power grid and expand into the VSC-HVDC market, according to a media release.
“This cooperation brings together world-class VSC-HVDC technology and LS Electric’s unique experience in executing HVDC projects in Korea, with the aim of building Korea’s Energy Highway in a more reliable manner,” Koo Ja-kyun, Chairman of LS Electric, said. “Based on this partnership, we will strengthen Korea’s competitiveness to lead global HVDC technology and business.”
“By combining GE Vernova’s global HVDC technology and experience with LS Electric’s strong local manufacturing and execution capabilities, we can support Korea in building the reliable transmission infrastructure needed for its future energy and economic growth,” Philippe Piron, President & CEO of GE Vernova’s Electrification segment, said.
LS Electric expects that its cooperation with GE Vernova will further enhance the reliability of the West Coast Energy Highway project being promoted by the Korean government, the media release said.
