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LC C&S reports off-shore cable contract

South Korea’s LS Cable & System (LS C&S) will supply submarine cables worth approximately $85 million to the Taiwan Power Company (TPC) for a wind farm to be built off the west coast of Taiwan.

A press release said that the order is from Foxwell Energy, an energy enterprise based in Taiwan and the builder of the upcoming construction project. Taiwan will complete a 5.5 GW wind farm as the first offshore wind farm construction project by 2025, and develop an additional 15 GW wind farm by 2023. To produce 1 GW of electric power, a nation needs to build about 20 nuclear power plants.

By winning this contract, LS C&S won the right to supply ultra-high-voltage submarine cables for all eight sub-projects in the first offshore wind farm construction project in Taiwan. The total contract amount so far has reached about 900 billion won (US$697 million).

Per an article in BusinessKorea, an LS C&S official said that the size of additional submarine cable orders to be placed, starting this year, is expected to reach about 2 trillion won ($1.5 billion). “Based on our overwhelming submarine cable manufacturing capabilities and experience, we are seeking to expand our business through cooperation and market development with KT Submarine.”

LS C&S recently acquired a stake in KT Submarine, a company specializing in installing submarine cables, to strengthen its capabilities. LS C&S has also further strengthened its cooperation with other global offshore wind business operators such as Ørsted and CIP based in Denmark, Jan De Nul based in Belgium, and WPD based in Germany through their respective projects as it continues to accelerate its expansion in the European and North American markets.

Read 463 times Last modified on May 3, 2023