Balmoral Comtec Signs MoU for Equinor’s Firefly Floating Wind Project

Balmoral Comtec, a subsidiary of offshore energy supply chain firm Balmoral, has entered into a memorandum of understanding (MoU) with South Korea-based LS Cable & System and LS Marine Solution for collaboration on Equinor’s Firefly floating wind project.

The partnership stems from LS Cable & System’s recent MoU with Norwegian energy giant Equinor for cooperation on the 750 MW Firefly floating offshore wind project in South Korea.

South Korea’s Ministry of Trade, Industry, and Energy has included floating offshore wind power in its 2024 fixed-price contract competitive bidding for wind and solar power facilities, with the Firefly project being selected. LS Cable & System’s collaboration with Equinor positions them favorably in this emerging market.

LS Cable & System has a track record of developing dynamic cables designed for harsh offshore environments, making them a valuable partner for the Firefly project. Through the agreement, the Korean companies will work with Balmoral Comtec to establish an operational system for floating offshore wind cables, while LS Marine Solution will focus on enhancing installation efficiency and ensuring stable maintenance.

According to an LS C&S official, “Although floating offshore wind currently represents a small portion of the market, it is anticipated to experience rapid growth in the coming years.”

The Firefly project, also known as Bandibuli, is a 750MW floating offshore wind farm that will utilize Siemens Gamesa’s 15MW large-scale wind turbines. The wind farm is located 70km off the coast of Ulsan, spanning two 75 sq km areas.