Signs a Deal to Supply Underwater Cables to Osted
LS Cable & Systems has recently signed a contract with Denmark’s Osted, the world's No. 1 offshore wind power developer, to supply ultra-high-voltage underwater cables for five years.
Earlier in 2020, LS Cable & Systems won orders worth nearly 400 billion won from Bahrain, the Netherlands and the United States. The company has also swept orders for ultra-high-voltage underwater cables awarded by the Taiwanese government for its first-phase offshore wind power project, which will be carried out until 2025. Its order backlog for underwater cables stands at about 1.4 trillion won.
Demand for underwater cables is on the rise as a growing number of offshore wind farms are built in line with the expansion of renewable energy supply in Europe, the Middle East and Asia.
LS Cable & Systems has carried out large-scale turnkey projects in Europe, the Middle East, and Asia and in the United States. The company took part in the construction of the first offshore wind farm in the U.S. There are only about five companies in the world that can supply and install submarine cables, and LS Cable & Systems is the only Korean company among them.