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[Alpha Biz=(Chicago) Reporter Paul Lee] LS Cable & System signed two main contracts among the 'comprehensive long-term supply contracts' signed with the Dutch state-run power company Tennet in May.
LS Cable & System announced on July 7 that it has signed a contract to supply 1.5 trillion won worth of ultra-high-pressure direct current transmission (HVDC) cable with Tennet Offshore, a German subsidiary of Tennet.
LS Cable & System plans to supply undersea and underground cables from 2026 in line with the two main contracts. The remaining two contracts are also expected to be concluded sequentially by 2026. LS Cable & System has formed a consortium with Belgian builders Jandenul and Dennis to win four projects linking the North Sea and Germany in Europe.
In May last year, Denmark, the Netherlands, Belgium and Germany agreed to jointly install 65 gigawatts (GW) of offshore wind power by 2030. Tenet will participate in this project and supply green wind energy to up to 35 million households.
HVDC is a product optimized for long-distance transmission networks, inter-country connections, and renewable energy generation, and the market is growing rapidly in Europe and North America.
LS Cable & System is expanding its undersea business by making an additional investment of 155.5 billion won in Donghae-si, Gangwon-do in August.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
