South Korea-based cable firm wins bid for $1.13b European wind energy project

LS Cable & System Ltd. will supply HVDC cables for offshore wind farms over the North Sea.

South Korea-based cable specialty company LS Cable & System Ltd. (LS C&S) has secured a $1.13b (KRW 1.5t) high-voltage cable project deal for a European offshore wind energy initiative.

The deal involves the provision of high-voltage direct current (HVDC) for power transmission networks and submarine/underground cables that are connected from the offshore wind farm in the North Sea.

Consortium partners, Jan De Nul Group and Denys NV, are also participating in the deal.

It will build up from a prior deal with Denmark, the Netherlands, Belgium, and Germany to set up 65 gigawatts (GW) of offshore wind power facilities by 2030. LS C&S has also slated several deals surrounding the project by 2026.

Alongside it, LS C&S will also supply $1.53b (KRW 2t) HVDC cables to the Netherlands-based power company Tennet. With it, Tennet has planned to supply over 35 million households using green wind energy infrastructure.

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“We have been preparing for the growing market by newly constructing an HVDC factory. The market is growing rapidly surrounding European and North American markets, and we are also planning to make additional investments,” LS C&S said in a statement.

The LS Cable & System Ltd. is the only company in South Korea specialising and supplying the world’s highest voltage HVDC cable (525 kV). It is also involved in the largest power transmission network construction project.

1 USD = KRW 1306.34