LS Cable and LS Marine Solutions are moving forward with a 504MW offshore wind cable project in Taean. They have secured schedules for cable production and offshore installation, aiming to finalize the main contract by the end of the year. This initiative strengthens their integrated business model, covering everything from cable production to installation, in response to the expanding domestic offshore wind market.
On November 2, LS Cable and LS Marine Solutions announced they have signed a Construction and Resource Agreement (CRA) for the supply and installation of offshore cables for the Taean Wind Power Project. The CRA ensures that schedules for cable production facilities and installation vessels are secured ahead of the main contract.
Since being selected as the preferred bidder in 2024, the companies have been preparing for their participation in the project. They are currently reviewing product specifications and installation scope through cable engineering and preliminary surveys. They plan to finalize the contract amount and other details by the end of the year.
The submarine cable project is significant as the availability of production facilities and installation vessels can impact the construction schedule. Thus, this agreement indicates that key equipment schedules have been secured ahead of the main contract.
The Taean offshore wind project is a joint development by Korea Western Power, Singapore's Buena Energy, and Denmark's Copenhagen Infrastructure Partners (CIP). It is being established offshore near Taean-gun, with a target completion date set for 2030.
This project marks the second large-scale offshore wind initiative in which the two companies are jointly involved, following the Sinan Uwi offshore wind project. LS Cable will supply the cables, while LS Marine Solutions will handle the offshore construction, utilizing the GL2030, a cable-laying vessel that has been upgraded to a 7,000-ton capacity.
The companies aim to increase joint contracts in line with the expansion of offshore wind power in South Korea. With the government targeting 55GW of offshore wind capacity by 2035, they anticipate a growing demand for submarine cable supply and installation.
An LS Cable representative stated, "It is crucial to closely link production and installation of submarine cables to enhance on-site responsiveness and accountability. We will proceed with the main contract without any setbacks to expand our presence in the domestic offshore wind market."
* This article has been translated by AI.
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