A High-voltage direct current (HVDC) cable plant to come up at the south of the River Tyne at the Tyne Renewables Quay site in the UK. The goal is to secure planning permission for the project later this year, with production earmarked to start in 2027.

Oct 28, 2024

Global Interconnection Group, in partnership with LS Group, South Korean conglomerate mostly in electrics, electricity materials and energy sectors, plans to develop a high-voltage direct current (HVDC) cable plant south of the River Tyne at the Tyne Renewables Quay site in the UK. The plan is to bring a USD 1.2 billion cable factory to the bank.

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The partners are aiming to secure planning permission for the project later this year, with production earmarked to start in 2027. But they have warned shareholders there are still considerable risks to overcome in getting the development off the ground.

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The plant will feed a growing market for high voltage direct current (HVDC) cables that can be used to transmit power from wind and solar farms. The HVDC cables are said to reduce electricity transmission losses by at least 15% compared with AC power equivalents.