LS Cable & System has inked a five-year contract with Danish energy firm Orsted to supply high-voltage export cables for offshore wind farms.
A press release said that the exact size of the deal is unknown, but media reports estimated that it could be worth hundreds of millions of dollars. LS Cable & System has participated in multiple offshore wind projects with Orsted. It previously supplied cables to the worldโs largest offshore wind farm, Hornsea One and Two, in England, and it will supply subsea cables for the Greater Changhua 1 & 2a offshore wind farms in Taiwan.
Orsted is set to build a 1.6-GW offshore wind farm project in the waters off Incheon, South Korea, which Orsted Asia-Pacific President Matthias Bausenwein said would offer massive opportunities for local suppliers. The offshore wind farm will be installed with 100-140 wind turbines and be able to generate electricity for 1.3 million households annually. The project supports Koreaโs Green New Deal initiative, which aims to put up 12 GW of offshore wind power capacity by 2030.
โThe trend of investing in renewable energy will continue, even during the current Covid-19 situation,โ said Myung Roe-hyun, president and CEO of LS Cable & System. โWe are delighted to continue this cooperation with the leading company in offshore wind energy.โ
