LS Cable & System Wins 200 Billion KRW Taiwan Submarine Cable Project

[Asia Economy Reporter Suyeon Woo] LS Cable & System has expanded its market share by consecutively winning large-scale submarine cable projects in Taiwan.

LS Cable & System announced on the 6th that it was selected as the preferred negotiation partner for a 200 billion KRW project by CDWE (CSBC-DEME Wind Engineering), an offshore wind power construction company, and will supply submarine cables to the Hailong Offshore Wind Farm by 2025.

With this, LS Cable & System has secured all the ultra-high voltage submarine cable supply rights for the offshore wind farm projects ordered so far in Taiwan. The total order amount reaches approximately 800 billion KRW.

LS Cable & System loading submarine cables at Donghae Port, Gangwon Province / Photo by LS Cable & System

Taiwan is promoting the development of a total of 15GW of offshore wind farms by 2035 as part of its renewable energy expansion policy, and the Hailong site is one of the largest offshore wind farms in Taiwan. It is located about 50 km off the west coast of Taiwan and will produce about 1GW of power, equivalent to one nuclear power plant. This project is jointly developed by Northland Power of Canada and Vison Energy of Singapore, with CDWE supplying and constructing key materials and facilities such as submarine cables.

LS Cable & System plans to focus on winning additional submarine cable bids in Taiwan, which are expected to exceed 1 trillion KRW. The company also expects that its business experience in Taiwan will serve as a stepping stone for expanding into the rapidly growing offshore wind power markets in North America and Southeast Asia.

Myung Nohyun, CEO of LS Cable & System, said, "Based on the close cooperative relationships we have built with global offshore wind power operators in Europe, North America, and Taiwan, we will lead domestic and international renewable energy projects."

This content was produced with the assistance of AI translation services.