The South Korean cable manufacturer is expected to bid for additional 1 trillion KRW worth of submarine communication cables in the future.
October 13, 2021
South Korea-based cable manufacturer LS Cable & System has received a USD 167.89 million (200 billion KRW) submarine communication cable project in Taiwan.
The cable company informed that it has been selected as a preferred bidder by CDWE (CSBC-DEME Wind Engineering), an offshore wind power construction company. It will supply submarine communication cables to the Hai Long offshore wind farm by 2025.
The Hai long offshore wind farm will be developed in a sea about 50 km from the west coast of Taiwan. It plans to produce about 1GW of electricity, equivalent to one nuclear power plant. It will be jointly developed by Canada’s Northland Power and Singapore’s Yushan Energy, and CDWE will begin to prepare major materials and facilities such as submarine communication cables.
The project is worth about USD 671.50 million (800 billion KRW). In compliance with Taiwan’s new and renewable energy expansion policy, it is expected that LS Cable & System will bid for an additional 1 trillion KRW worth of submarine communication cables in the future.
Roe-hyun Myung, CEO of LS Cable & System, said, “Based on the close cooperation we have built with global offshore wind power operators in Europe, North America, and Taiwan, we will also lead the domestic and overseas renewable energy business.”