South Korea-based power cable supplier LS Cable & System on Thursday signed a subsea cable supplier agreement with offshore wind developer Ørsted for Ørsted’s Greater Changhua 2b and 4 offshore wind projects in Taiwan.
The 920MW projects Changua 2b and 5, located 35 - 60 km from the Changhua coast in western Taiwan, will be among the largest offshore wind farms in the Asia-Pacific region when completed at the end of 2025.
In Taiwan, LS C&S has won the supplier rights for High Voltage submarine cables for all eight projects of the country’s Phase 1 olffshore wind farm construction projects. The accumulated amount of orders has reached approximately 1 trillion won [~$753M at current exchange rates] since 2019.
Taiwan is planning to complete the construction of offshore wind farms with a total output of 5.5GW by 2025 and will build additional offshore wind farms for an additional output of 15GW by 2035.
LS C&S spokesperson said: "We expect additional orders to be placed from Taiwan and estimate that the submarine cable market will be worth around 3 trillion won [...] if we cooperate with KT Submarine to expand into the construction business, we expect our business to grow even more in size.”
LS C&S said it had recently acquired the shares in the submarine cable construction company KT Submarine and improved upon the company’s construction capabilities.
"There are only about five companies in the world capable of both submarine cable manufacturing and construction, and LS C&S is the only company in Korea to be capable of such services," LS C&S said.