LS Cable & System Secures Contracts for Offshore Wind Project in South Korea
Electrical cable provider LS Cable & System and its subsidiary LS Marine Solution have been awarded contracts for supplying and installing cables on an offshore wind project in South Korea.
The two companies, LS Cable & System and LS Marine Solution, have emerged as the preferred bidders for the 532MW Anma offshore wind project, a significant development in the renewable energy sector in South Korea.
Under the terms of the agreement, LS Marine Solution will be responsible for laying the cables that will connect the offshore wind farm to the mainland. The contract for this scope of work is valued at KRW 94bn ($68m). Additionally, LS Cable & System has secured a contract worth KRW 177bn ($128m) for its part in the project.
Construction activities are expected to commence later this year, with the commissioning of the wind farm scheduled for 2029. This project marks a significant step towards achieving South Korea’s renewable energy goals.
The Anma offshore wind project was selected as one of five developments to receive a portion of nearly 1.9GW in offshore wind capacity awarded by the South Korean government at the end of last year. The project is being developed by a consortium comprising Equis Development, Jeonnam Development Corporation, Korea Wind Corporation, Korea Hydro and Nuclear Power, and Hyundai Engineering and Construction, with each partner holding an equal stake in the venture.