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The Korea Herald
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THE INVESTOR
May 25, 2024

Market Now

LS Cable & System to build Korea's largest offshore wind farm

  • PUBLISHED :June 08, 2023 - 09:47
  • UPDATED :June 08, 2023 - 09:47
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LS Cable & System's high-voltage direct current cable plant in Donghae City, Gangwon Province (LS Cable & System)

South Korean cable maker LS Cable & System said Wednesday it won an order worth some 100 billion won ($76 million) to build the country's largest offshore wind farm in joint cooperation with Hanwha Corporation Engineering & Construction.

According to the company, LS Cable & System has been selected as supplier of submarine communication cables for Hanwha Corp. E&C's Shinan Ui offshore wind power project.

The project, which is scheduled to be completed by 2026, aims to construct the country's largest offshore wind farm -- capable of producing 400 megawatts of wind energy annually -- in the southeastern sea near Uido, South Jeolla Province.

It is predicted that the farm will produce more than three times the wind energy currently produced by all Korean offshore wind power farms each year.

"Foreign companies, such as Chinese companies, have dominated the domestic solar market and are foraying into the (domestic) offshore wind energy market as well," a LS Cable & System official said.

"This cooperation is significant in that Hanwha Corp. E&C, the leader of the offshore wind energy business, and a submarine communication cable company cooperate to protect the domestic industry ecosystem," he added.

By Lee Yoon-seo (yoonseo.3348@heraldcorp.com)

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