Photograph) A panoramic view of LS Cable & System HVDC factory in Donghae, Gangwon-do


■ In May, it signed long-term cooperation agreements covering four projects worth KRW2 trillion, and now subsequently finalizes two contracts out of four projects.
■ Connecting North Sea wind farm with the German extra-high voltage grid via submarine and underground cables 


Last May, LS Cable & System signed one out of three comprehensive long-term frame contracts with TenneT, the national transmission system grid operator in the Netherlands and Germany, to provide 2GW grid connection systems for its national extra high-voltage grid.

LS Cable & System announced on December 7 that it signed contracts to supply high-voltage, direct current (HVDC) cable grid connection systems worth about KRW1.5 trillion with TenneT.

In May 2022, four European countries, i.e. Denmark, the Netherlands, Belgium, and Germany, agreed to jointly install offshore wind power facilities with a capacity of 65GW by 2030. 

LS Cable & System formed a consortium with Belgian construction companies Jan De Nul and Denys won the contract for a total of four projects connecting the North Sea and Germany.

Under the current contracts LS Cable & System will supply submarine and underground cables from 2026. 
The remaining two contracts are expected to be concluded sequentially by 2026.

HVDC is optimized for long-distance transmission grids, cross-border connections, and renewable energy generation, the market is growing rapidly, especially in Europe and North America.

The company said, “Power grid construction projects are becoming more active around the world, but as HVDC cables require large-scale facility investment and high technology, a small number of global cable companies, including LS Cable & System, are occupying most of the market.”

LS Cable & System is expanding its submarine cable business, e.g. the decision to make an additional investment worth KRW155 billion in its plant in Donghae, Gangwon-do last August.