LS ELECTRIC’s U.S. subsidiary has secured a 162.5 billion won ($119 million) contract to supply power and distribution systems for a major North American tech company’s data center project, the South Korean electrical equipment maker announced Tuesday.
The deal represents the latest in a series of U.S. contracts for the company, which is strategically targeting the rapidly expanding North American power solutions market, particularly in the data center sector where demand is surging due to cloud computing and artificial intelligence growth.
Industry analysts project data center power demand will increase at an average annual rate of 11% through 2028, with AI-focused facilities potentially growing between 26% and 36% during the same period.
The South Korean firm plans to strengthen partnerships with local power companies to navigate U.S. regulations while capitalizing on opportunities in the market’s large-scale industrial and technological sectors.
LS ELECTRIC expects its recent string of contract wins to accelerate its North American business momentum as the company leverages its growing experience and strategic relationships to expand its footprint in the region’s power infrastructure market.
