LS Cable & System Strengthens Offshore Wind Collaboration
LS Cable & Systemย has signed aย Memorandum of Understanding (MOU)ย withย Northland Powerย to cooperate on offshore wind power projects in South Korea. The agreement outlines their shared roles in developing, designing, and constructing offshore wind power systems that support Koreaโs growing renewable energy market.
This partnership marks an important step in LS Cable & Systemโs efforts to expand its presence in the global renewable energy infrastructure sector, aligning with the nationโs carbon-neutral goals.
LS Cable & System and Northland Power Join Forces
Founded inย 1987, Canada-basedย Northland Powerย builds and operates renewable energy assets, includingย wind powerย andย photovoltaic facilities. The company has significant experience in Asia, particularly through projects inย Taiwanย andย Japan.
LS Cable & System previously served as aย key submarine cable supplierย for Northland Powerโsย 1 GW Hai Long Wind Farmย in Taiwan. Building on that success, both companies now plan to replicate this collaboration inย Koreaโs offshore wind sector, starting with key developments such as theย 1.3 GW Dado Ocean Wind Power Projectย inย Jeollanam-do.
Driving Renewable Energy and Business Growth
Asย Northland Powerย expands its footprint in Korea, LS Cable & System expects to see stronger sales and local job creation. โThrough this MOU, we aim to align with Koreaโs renewable energy policy and contribute to employment growth,โ saidย Roe-Hyun Myung, President and CEO of LS Cable & System.
This partnership reinforces LS Cable & Systemโs role as a leading global provider of submarine cables critical to offshore wind infrastructure. With the governmentโs continued investment in green energy, the company sees long-term potential for industry growth.
Financial Support to Accelerate Green Initiatives
In a parallel move, LS Cable & System also signed an agreement with theย Korea Development Bank (KDB)ย for an โindustry-finance cooperation programโ aimed at promoting theย submarine cable industry. Under the plan, KDB will provideย KRW 1 trillionย in funding over the next five years.
The investment will fuelย environmentally friendly projects, including the expansion ofย submarine cable production and technology. โLS Cable & System is investing heavily in submarine cables to help Korea reach its carbon-neutral target,โ the company stated.
Through strategic partnerships and financial support, LS Cable & System continues to position itself as a driving force behindย Koreaโs offshore wind expansionย and the transition to a sustainable energy future.
ย
ย
