LS Cable announced on Feb. 25 that it would supply submarine cables to Brazil for the first time as a Korean company.
LS Cable will supply ultra-high voltage submarine cables and underground cables to the island of Santa Catarina, a resort town in southern Brazil by way of an agreement with ISA CTEEP, a Brazilian power grid operator.
ISA CTEEP is responsible for 25 percent of total power supply in Brazil and 60 percent in the southeastern region of the nation. The project is to build a new power grid to solve Brazil’s power shortage problem.
LS Cable earned high points for its experience of successfully building the US's first offshore wind farm and completing large-scale submarine power grid projects in North and South America including Canada and Venezuela during the order taking process.
Brazil has an old power grid and depends on hydropower generation based on the Amazon River, the Parana River, and the Xingu River for more than 60% of its total power generation. Therefore, the Brazilian government is seeking to diversify the supply of electric power such as wind power and solar power generation. Thus power generation industry experts say that Brazil has an electric power market with huge growth potential.