LS Cable & System Expands Offshore Wind Business with Subsidiary Cooperation
South Korean subsea cable manufacturer LS Cable & System is making significant strides in expanding its offshore wind business by leveraging the synergistic effect of collaborating with its subsidiaries to provide innovative solutions to the offshore wind industry.
Subsidiary Collaboration
Starting from 24 March, LS Cable & System and its subsidiaries are aligning their business objectives to focus on investment, operation, and technology development in offshore wind power and energy-related businesses. LS Materials, a subsidiary specializing in supplying ultracapacitors for wind power generators, is exploring opportunities in grid systems to stabilize renewable energy power grids.
Additionally, Gaon Cable and LS Eco Energy, two subsidiaries of LS Cable & System, are ramping up investments and operations in the offshore wind subsea cable business. LS Marine Solutions is also expanding its vessel operation business to support offshore wind projects.
Enhancing Competitiveness
With this strategic expansion, LS Cable & System aims to strengthen its competitiveness along the entire offshore wind value chain and broaden its eco-friendly energy portfolio. The company intends to take advantage of market growth opportunities, such as the Offshore Wind Power Special Act and the ‘West Coast Energy Expressway’ initiative, to establish itself as a leader in the offshore wind power market.
LS Cable & System’s expertise in building HVDC submarine transmission networks in Korea positions it well to excel in the offshore wind sector. The company has already secured contracts for subsea cable solutions for various offshore wind projects in Korea and Europe.
Recent Achievements
Earlier this year, LS Cable & System, in collaboration with Jan De Nul and Denys, was awarded a letter of allocation from German/Dutch TSO TenneT for the supply of HVDC cables for the BalWin5 grid connection project in Germany. The consortium will oversee the manufacturing, transport, installation, and testing of 525 kV HVDC power cables for the BalWin5 project, which is part of TenneT’s 2 GW programme.
By capitalizing on the expertise and resources of its subsidiaries, LS Cable & System is poised to play a significant role in the global offshore wind industry, contributing to a more sustainable energy future.