LS Cable & System Strengthens Offshore Wind Collaboration
LS Cable & System has signed a Memorandum of Understanding (MOU) with Northland Power 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 Korea’s growing renewable energy market.
This partnership marks an important step in LS Cable & System’s efforts to expand its presence in the global renewable energy infrastructure sector, aligning with the nation’s carbon-neutral goals.
LS Cable & System and Northland Power Join Forces
Founded in 1987, Canada-based Northland Power builds and operates renewable energy assets, including wind power and photovoltaic facilities. The company has significant experience in Asia, particularly through projects in Taiwan and Japan.
LS Cable & System previously served as a key submarine cable supplier for Northland Power’s 1 GW Hai Long Wind Farm in Taiwan. Building on that success, both companies now plan to replicate this collaboration in Korea’s offshore wind sector, starting with key developments such as the 1.3 GW Dado Ocean Wind Power Project in Jeollanam-do.
Driving Renewable Energy and Business Growth
As Northland Power expands its footprint in Korea, LS Cable & System expects to see stronger sales and local job creation. “Through this MOU, we aim to align with Korea’s renewable energy policy and contribute to employment growth,” said Roe-Hyun Myung, President and CEO of LS Cable & System.
This partnership reinforces LS Cable & System’s role as a leading global provider of submarine cables critical to offshore wind infrastructure. With the government’s 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 the Korea Development Bank (KDB) for an “industry-finance cooperation program” aimed at promoting the submarine cable industry. Under the plan, KDB will provide KRW 1 trillion in funding over the next five years.
The investment will fuel environmentally friendly projects, including the expansion of submarine cable production and technology. “LS Cable & System is investing heavily in submarine cables to help Korea reach its carbon-neutral target,” the company stated.
Through strategic partnerships and financial support, LS Cable & System continues to position itself as a driving force behind Korea’s offshore wind expansion and the transition to a sustainable energy future.
