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| This photo, provided by LS Cable & System on May 26, shows senior officials of LS Cable and Denmark's Orsted posing after signing a submarine cable supply deal. Yonhap |
LS Cable System, Korea's top wire and cable maker, said Friday it has clinched a 189.2 billion-won ($143 million) submarine cable supply deal from Denmark.
Under the deal, LS Cable will supply extra-high voltage submarine cable systems for an offshore wind farm project operated by Denmark's Orsted, the world's largest offshore wind farm operator, the company said in a statement.
In the initial stage, the wind farm, located in waters off the west coast of Taiwan and the largest of its kind in the Asia-Pacific region, will be completed by 2025 to generate up to 5.5 gigawatts of electricity, according to LS Cable.
So far, LS Cable has obtained eight cable supply deals of the first phase, with the cumulative amount of orders reaching around 1 trillion won over the past five years.
By 2035, Taiwan aims to generate an additional 15 GW of electricity from the wind farm, according to LS Cable.
LS Cable said it expects to win more submarine cable deals from the Taiwanese wind farm project, as the country is slated to place orders worth an additional 3 trillion won down the road. (Yonhap)
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