South Korean firms bag offshore wind cabling deals worth

LS Cable & System, along with its subsidiary LS Marine Solution, has secured significant contracts for the Anma offshore wind project in South Korea. Selected as preferred bidders in 2023, the companies will supply and install essential cables for the 532MW project. The total value of the contracts amounts to approximately KRW 271 billion ($196 million), with construction expected to commence later this year and the wind farm slated for commissioning in 2029.

Details of the Contracts

LS Marine Solution will oversee the installation of cables that will connect the offshore wind farm to the mainland. The contract awarded to LS Marine Solution is valued at KRW 94 billion ($68 million), while LS Cable & System’s contract is worth KRW 177 billion ($128 million). This partnership is part of a broader initiative by the South Korean government, which allocated nearly 1.9GW of offshore wind capacity to five different developments at the end of last year.

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The Anma project is being developed by a consortium that includes Equis Development, Jeonnam Development Corporation, Korea Wind Corporation, Korea Hydro and Nuclear Power, and Hyundai Engineering and Construction. Each partner holds an equal stake in the project, reflecting a collaborative effort to enhance South Korea’s renewable energy landscape. As the country continues to invest in offshore wind energy, the Anma project represents a significant step towards achieving its renewable energy goals.