Photograph) Euigon Ko, Head of Submarine Cable System Sales Division of LS Cable & System(center), Gareth Dooley, Deputy Programme Director for Greater Changhua 2b and 4 offshore wind farms(left), and Seung-Ho Choe, Country Manager for Ørsted Korea are taking photos after signing the contract at the "Korea-Danish Green Business Forum" held in BEXCO, Busan.
■ Partnership with Ørsted, global offshore wind leader, to expand into the global market
■ Partnership with KT Submarine and expanding businesses by infiltrating the construction market
■ Total 1 Trillion won contract worth for Taiwan’s Phase 1 Offshore Wind Projects since 2019
On May 25, 2023, LS C&S signed a submarine cable supplier agreement with Ørsted, the global leader in offshore wind headquartered in Denmark, for Ørsted’s Greater Changhua 2b and 4 offshore wind projects in Taiwan.
It will generate the renewable energy from the 920MW projects, located 35 - 60 km from the Changhua coast in western Taiwan, will be among the largest offshore wind farms in the Asia-Pacific region when completed at the end of 2025.
In Taiwan, LS C&S has won the supplier rights for High Voltage submarine cables for all eight projects of the country’s Phase 1 Offshore Windfarm Construction Projects. The accumulated amount of orders has reached approximately 1 trillion won since 2019.
Taiwan is planning to complete the construction of offshore wind farms with the total output of 5.5GW through the first phase of the project by 2025 and will build additional offshore wind farms for an additional output of 15GW by 2035.
LS C&S spokesperson said, “We expect additional orders to be placed from Taiwan and estimate that the submarine cable market will be worth around 3 trillion won” and continued, “If we cooperate with KT Submarine to expand into the construction business, we expect our business to grow even more in size.”
LS C&S has recently acquired the shares in the submarine cable construction company KT Submarine and improved upon the company’s construction capabilities. There are only about five companies in the world capable of both submarine cable manufacturing and construction, and LS C&S is the only company in Korea to be capable of such services.