LS Electric lands $216 million data center deal as part of growth drive in US

LS Electric, a South Korean company, has announced a significant expansion in the North American infrastructure market, securing a deal worth 319 billion won ($216 million). This agreement with Bloom Energy involves providing critical power distribution systems, including switchgears and transformers, for a large-scale data center project in New Mexico. Although the global technology company developing the data center was not disclosed, the deal underscores the escalating demand for data center capacity fueled by artificial intelligence, driving substantial investment in power infrastructure across the continent. LS Electric is also enhancing its local production capabilities within the United States, specifically in Utah and Texas, to improve supply chain responsiveness and reduce delivery times. This latest contract follows another substantial data center deal earlier this month valued at 170 billion won, both contributing to LS Electric's record financial performance in the first quarter, with revenues reaching 1.37 trillion won and operating profit totaling 126.6 billion won.