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Photo = LS cable |
[Alpha Biz= Reporter Kim Jisun] On December 11, LS Cable announced that it has signed a contract with TenneT Offshore, the German subsidiary of the Dutch state-owned power company TenneT, to supply cables for an offshore wind farm project in Germany.
The contract is valued at 907.3 billion KRW, accounting for 14.59% of LS Cable's revenue from the previous year. The project duration is from December 12, 2024, to September 30, 2031.
Under this agreement, LS Cable will supply 525 kV (kilovolt) high-voltage direct current (HVDC) submarine and underground cables, along with accessories, and will carry out electrical connection work and on-site testing.
Previously, in May 2023, LS Cable secured a 2 trillion KRW comprehensive agreement with TenneT for HVDC cable supply for offshore wind projects in the North Sea. At the end of 2023, the company signed two related contracts worth 1.5 trillion KRW.
HVDC technology is advantageous for transmitting large amounts of electricity over long distances compared to AC (alternating current). Its adoption is growing for long-distance transmission networks and renewable energy sources such as offshore wind and solar power. In Europe, HVDC cables are particularly in demand for expanding transmission networks and interconnecting national power grids for offshore wind projects.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
