LS Cable wins 189.2 bln-won submarine cable supply deal

LS Cable and System Ltd., South Korea’s top wire and cable maker, said Friday it has clinched a 189.2 billion-won (US$143 million) submarine cable supply deal from Denmark.

Under the deal, LS Cable will supply extra-high voltage submarine cable systems for an offshore wind farm project operated by Denmark’s Orsted, the world’s largest offshore wind farm operator, the company said in a statement.

The project would generate 920 megawatts of electricity when completed at the end of 2025.

So far, LS Cable has obtained eight cable supply deals of the first phase, with the cumulative amount of orders reaching around 1 trillion won over the past five years.

Taiwan is planning to complete the construction of offshore wind farms with a total capacity of 5.5 gigawatts through the first phase of the project by 2025 and will build additional offshore wind farms to generate 15 GW of electricity by 2035, according to LS Cable.

LS Cable said it expects to win more submarine cable deals from the Taiwanese wind farm project, as the country is slated to place orders worth an additional 3 trillion won down the road.

Source: Yonhap News Agency