South Korean petrochemical firm Hanwha Solutions said Thursday it has developed a proprietary extra-high-quality voltage cable compound to meet the surging global demand for advanced power grid infrastructure.

Petrochemicals, derived from petroleum or natural gas, form the basis for advanced polymers used as insulation in extra-high-quality voltage cables.

The company’s innovation is Cross-Linked Polyethylene, or XLPE, which enhances the heat resistance and efficiency of power cables through the addition of special chemicals to polyethylene.

The development of XLPE for 400-kilovolt cables is significant for Hanwha Solutions as it replaces imported products. The company is in the process of securing quality certifications from domestic cable manufacturers and aims to supply its products for large domestic projects and exports from 2022 through this year.

Furthermore, Hanwha Solutions is venturing into the submarine cable market, driven by the growing demand for renewable energy sources, such as offshore wind power. Its specially designed XLPE for submarine cables has received quality certifications from global cable companies and is now being exported to projects around the world in the US and Europe.

In the last year, Hanwha Solutions' high-voltage cable compound business experienced a 61 percent increase in sales, attributed to its XLPE production capacity of 110,000 metric tons, the third largest globally, and its high-purity process technology.

To capitalize on the extra-high-quality voltage XLPE market, growing at an annual rate of over 7 percent, Hanwha Solutions is broadening its cable compound portfolio. This includes the Ethylene Butylacrylate Copolymer, a semi-conductive compound developed in-house to enhance cable performance and exploring ways to enhance its market presence through increased production capacity.