Heavy Investments Amplify Lucrative Opportunities in the High Voltage Direct Current Transmission System Market

HVDC Transmission System

High Voltage Direct Current (HVDC) transmission systems represent one of the latest technologies that can transmit a huge amount of power over long distances efficiently. Owing to its improved advantages of HVDC transmission systems over conventional power transmission systems, adoption of this technology is increasing across the globe.

Heavy Investments in HVDC Transmission System Projects Create Lucrative Opportunities for Market Players

Great River Energy – an electric generation and transmission cooperative in the U.S. – recently announced that it will soon be upgrading its power transmission line that connects North Dakota to a town near Minneapolis. The company announced its plans to invest US$ 130 million to upgrade the CU HVDC transmission system and improve its efficiency gains by 7 megawatts. Grain Belt Express Clean Line transmission is another high voltage direct current transmission system project in the U.S., which is designed by Houston-based Clean Line Energy. This is a 780-mile HVDC transmission system that transmits around 4,000 MW of wind power Kansas to Indiana and over US$ 2.3 billion are likely to be invested in this project.

Not just in developed countries like the U.S., but the adoption of high voltage direct current transmission systems is taking roots in emerging nations, such as South Korea, Pakistan, and Egypt, as well. The Egyptian government recently announced its plans to switch the existing electricity interconnection project between Egypt and Saudi Arabia to operate at HVDC transmission system. In addition, KAPES – a joint venture between General Electric (GE) and Korea Electric Power Corporation (KEPCO), a South Korean electricity company – was recently awarded a US$ 320 million contract to deliver a 4 GW HVDC transmission system. Similarly, the Private Power Infrastructure Board (PPIB) Pakistan has announced to invest over US$ 1658 million to start the country’s first HVDC transmission system project.

Increasing investments in the energy sectors in developed as well as emerging nations are expected to generate numerous opportunities for market players and stakeholders in the high voltage direct current transmission system market.

Adoption of the VSC Technology Remains High in the High Voltage Direct Current (HVDC) Transmission System Market

A mounting number of governments are employing modern high voltage direct current transmission systems to expand the energy sector in respective regions. As a result, leading manufacturers and distributors of HVDC transmission systems are focusing on developing advanced technologies to further improve the efficiency of these systems.

Growing environmental awareness and increasing applications of non-dispatchable renewable energy are making a major impact on the growth prospects of the high voltage direct current transmission system market. Recently, the U.S. Energy Information Administration (EIA) recently published a report – ‘Assessing HVDC Transmission for Impacts of Non‐Dispatchable Generation’. This report emphasizes on the importance of mitigating the operational challenges associated with the use and transmission of renewable energy with the help of modern technologies.

When the voltage source converters (VSC) technology is used in HVDC transmission systems, it gives more control to the operator to turn the semiconductor devices ON as well as OFF. The use of VSC technology in HVDC transmission systems is increasing more rapidly than the use of its technological alternatives, such as line-commuted converters (LCC) technology. The compact nature of and the fast-acting frequency response provided by VSC-HVDC transmission systems make them best-suited and more effective in reducing the impacts of non-dispatchable generation

Request Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-ap-3267

About Abhishek Budholiya 82 Articles
Abhishek Budholiya is a tech blogger, digital marketing pro, and has contributed to numerous tech magazines. Currently, as a technology and digital branding consultant, he offers his analysis on the tech market research landscape. His forte is analysing the commercial viability of a new breakthrough, a trait you can see in his writing. When he is not ruminating about the tech world, he can be found playing table tennis or hanging out with his friends.