LS Cable & System, a leading cable and system solution provider, is fostering cooperation with Hanwha Corporation's construction division for South Korea's largest offshore wind power initiative.
On June 7, LS Cable & System announced its selection as the preferred bidder to supply submarine cables for the "SinanUi offshore wind power project," led by Hanwha.
The project aims to construct a massive 400MW offshore wind farm in the southeastern sea area of Ui-do, Sinan-gun, Jeollanam-do, South Korea. This capacity surpasses the cumulative installed capacity of Korea's offshore wind power, which stood at 124 MW as of 2022.
By the second half of 2025, LS Cable & System will provide all the required submarine cables for the wind farm's construction and connection to the mainland. The contract size is projected to reach 100 billion won.
Both companies are planning to initiate contract negotiations promptly, focusing on product specifications and other crucial aspects, with a target completion date set for 2026.
With this project as a starting point, LS Cable and Hanwha intend to strengthen their collaboration in domestic offshore wind power generation ventures.
"Overseas companies like China have dominated the domestic solar power market and are also eyeing the offshore wind power sector," said an official of LS Cable & System. "This cooperation is significant as Hanwha, a leader in offshore wind power business, and an undersea cable company join forces to protect the domestic industrial ecosystem."
Approved offshore wind power projects in South Korea have amassed a total capacity of 20 GW. Industry experts estimate the overall business scale to exceed 100 trillion won.
Meanwhile, LS Cable & System is increasing its investments to bolster its submarine cable business by developing the world's leading 525kV class HVDC cable and completing the construction of a dedicated HVDC factory.
