Flawless Victory

Koh Eui-gon, head of the global sales division of LS Cable & System (left), and David Fu, president of Foxwell Energy, pose for a photo shaking hands and holding signed contracts at a contract-signing ceremony at the headquarters of Foxwell Energy in Taiwan.
Koh Eui-gon, head of the global sales division of LS Cable & System (left), and David Fu, president of Foxwell Energy, pose for a photo shaking hands and holding signed contracts at a contract-signing ceremony at the headquarters of Foxwell Energy in Taiwan.

LS Cable & System announced on March 23 that it has won a contract to supply undersea cables worth approximately 110 billion won (US$85 million) to Taiwan Power Corporation (TPC) for a wind farm to be built in the western sea of Taiwan.

Taiwan will complete a 5.5 GW wind farm as the first offshore wind farm construction project by 2025, and develop an additional 15 GW wind farm by 2023. To produce 1 GW of electric power, a nation needs to build about 20 nuclear power plants.

By winning this contract, LS Cable & System won the right to supply ultra-high-voltage submarine cables for all of the eight sub-projects in the first offshore wind farm construction project in Taiwan. The total contract amount so far has reached about 900 billion won (US$697 million).

“The size of additional submarine cable orders to be placed starting this year is expected to reach about 2 trillion won [US$1.5 billion],” an LS Cable & System official said. “Based on our overwhelming submarine cable manufacturing capabilities and experience, we are seeking to expand our business through cooperation and market development with KT Submarine.” LS Cable & System recently acquired a stake in KT Submarine, a company specializing in installing submarine cables, to strengthen its capabilities.

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