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LS Cable & System |
[Alpha Biz= Reporter Kim Jisun] LS Cable & System announced on the 2nd that it has signed a contract worth 100 billion KRW with LS Power Grid California, marking its first submarine cable supply to the West Coast of the United States.
LS Power Grid California, a subsidiary of LS Power established in New York in 1990, is involved in energy infrastructure development and investment, undertaking major energy projects across North America.
The submarine cable supplied under this contract will be part of a project to stabilize the power grid in the western region of the U.S. It will be installed in Northern California and will be used to transmit electricity from Oregon and other areas to California.
The U.S. submarine cable market is expected to continue growing due to the replacement of aging cables, the development of renewable energy, and increasing power demand driven by the expansion of AI and electric vehicle markets. California has planned to invest approximately $6.1 billion by 2035 to build 26 new transmission networks and over 85GW of renewable energy facilities.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
