LS Cable & System Signs Priority Supply Contract Worth 130 Billion KRW for Submarine Cable in Taiwan

Regarding the Pengmiao Offshore Wind Power Project

LS Cable & System announced on the 6th that it has signed a contract as the preferred bidder for submarine cables related to the Taiwan Fengmiao offshore wind power project in collaboration with Denmark's CIP.

View of LS Cable & System Submarine Cable Plant No. 2 in Donghae-si, Gangwon-do [Image source=Yonhap News]

The Fengmiao project is the first project of Taiwan's second offshore wind power initiative, which will be developed from 2026 to 2035 with a scale of 15GW. Industry insiders expect that the scale of submarine cable orders to be additionally placed in Taiwan by 2035 will reach approximately 3 trillion KRW.

LS Cable & System's submarine cables will be constructed near Taichung Port with a capacity of 500MW by 2027. The supply scale is about 130 billion KRW. The company stated, "After securing all ultra-high voltage submarine cable supply rights in the first offshore wind power project, we have been selected as the preferred supplier in the second project as well," adding, "This proves our global business capabilities."

LS Cable & System anticipates an increase in submarine cable demand as electricity demand rises and is considering building a submarine cable factory in Vietnam in partnership with LS Eco Energy.

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