LS

Photograph 1. LS Cable & System employees are checking submarine cables to be shipped at the Donghae Plant. ?

■ Winning the HV submarine cable market for the first offshore wind farm project of Taiwan

■ Expecting to win additional contracts worth KRW 1 trillion in the 1st and 2nd projects

■ With success in advancing into the Taiwanese market, further Asian expansion expected

LS Cable & System (President & CEO Roe-hyun Myung) announced on June 10 that it began to ship the first batch of submarine cables for Taiwan’s offshore wind farms.

This is the first shipment for the submarine cable project totaling KRW 500 billion that LS C&S won from Taiwan. Last year, LS C&S won the right to supply all the high-voltage (HV) submarine cables for the first offshore wind farm project being built in Taiwan.

This shipment, weighing 2,500 tons, is equivalent to a total length of 70km. The cables, transported from the submarine cable plant in Donghae, Gangwon-do to a ship in nearby Donghae Port will be installed in the wind farm off the coast of Yunlin Xian in the west of Taiwan during this month. 

From 2020 to 2035, the Taiwanese government is planning to construct a total of 15GW offshore wind farms in three projects and thus increase the proportion of renewable energy from 5% to 50%. The plan will secure 1GW of power generation?the equivalent of a nuclear power plant?each year.

As the size of the remainder of the first and second projects is expected to exceed KRW 1 trillion over the next three years, the company is concentrating on winning additional orders.

The Taiwanese government is trying to localize energy equipment and materials, but the submarine cables, which require long-term technology development and investments, were excluded from the localization targets, which means a green light for LS C&S to win additional orders.

“Taiwan is an advanced market that is converting to renewable energy ahead of others,” said President & CEO Roe-hyun Myung of LS C&S. “We will capitalize on our success in Taiwan to expand our market presence to Australia, Vietnam and Japan where the offshore wind power generation markets are expected to grow rapidly.”

Photograph 2. LS Cable & System’s submarine cables are being shipped at the Donghae Port in Gangwon-do.?

Photograph 3. LS Cable & System employees are checking submarine cables being produced at the Donghae Plant.?