LS Cable & System announced on Dec. 7 that it has signed a main contract with TenneT Offshore GmbH, the German subsidiary of the Dutch state-run power grid operator TenneT, for the supply of 1.5 trillion won (US$1.14 billion) worth of high-voltage direct current (HVDC) cables.
In May last year, four countries – Denmark, the Netherlands, Belgium, and Germany – agreed to jointly install 65 GW of offshore wind power capacity by 2030. TenneT is set to participate in this project, supplying wind energy to a maximum of 35 million households.
LS Cable & System has secured contracts for a total of four projects, forming a consortium with Belgian construction companies Jan De Nul and DEME. These projects involve connecting the North Sea with the German region, with a combined total project value in the range of 2 trillion won (US$1.52 billion). The current main contract encompasses two of these projects.
As per this agreement, LS Cable & System is scheduled to supply submarine and underground cables starting from 2026. The remaining two main contracts are also expected to be sequentially signed by 2026.
HVDC is optimized for long-distance power transmission, interconnection between countries, and renewable energy generation, contributing to its growing market trend, especially in Europe and North America.