SEOUL, - LS Cable & System Ltd., South Korea's leading wire and cable maker, said Thursday it has won a 1.5 trillion-won (US$1.13 billion) high voltage cable project deal, part of a four-nation European offshore wind energy initiative.
Under the deal, LS Cable and its consortium partners, Jan De Nul Group and Denys NV, will participate in four high-voltage direct-current cable projects commissioned by Tennet Offshore GmbH, the German subsidiary of Dutch state electricity company Tennet B.V.
In May 2022, Denmark, the Netherlands, Belgium and Germany agreed to collectively install 65 gigawatts worth of offshore wind power infrastructure by 2030. As part of the initiative, Tennet aims to supply up to 35 million households with green wind energy through its offshore infrastructure.
LS Cable's latest deal is part of a 2 trillion-won framework agreement between the consortium and Tennet signed earlier this year. The company said it plans to sign additional deals involving the agreement by 2026.
Source: Yonhap News Agency