Paris: South Korean power equipment maker LS Electric Co. announced plans to form a joint venture with U.S. energy technology company GE Vernova to advance in the high-voltage direct current (HVDC) sector.

According to Yonhap News Agency, the agreement to establish the joint venture, tentatively named "Grid X Technology," was signed during the CIGRE 2026 Session in Paris on Tuesday. The collaboration aims to focus on South Korea's voltage source converter (VSC)-based HVDC projects. These projects are crucial for transmitting electricity generated from renewable energy sources in the country's southwestern region to the densely populated Seoul metropolitan area.

The joint venture will leverage the combined technologies and expertise of both companies to develop HVDC solutions. The partnership will also craft strategies to ensure a stable supply of key components and equipment, with the broader goal of entering the global HVDC market.

GE Vernova, a U.S.-based global energy technology and power infrastructure company, was spun off from General Electric (GE) in April 2024.