LS Cable & System announced on Sept. 1 that it has recently signed a contract to supply submarine cables worth approximately 160 billion won ($128 million) for the Formosa 4 project led by Taiwanese offshore wind developer Swancor Renewable Energy.
The 495 MW Formosa 4 complex sits 18 kilometers off Taiwan’s west coast and represents a key component of the island’s second phase offshore wind commercialization program. LS Cable & System has secured all eight projects in the first phase of commercialization since signing its first submarine cable contract in Taiwan in 2019, according to the company.
The Korean manufacturer has emerged as a dominant force in Taiwan’s offshore wind sector, with accumulated contract value since 2019 reaching approximately 1 trillion won ($754 million). The Formosa 4 award follows the company’s recent win for the Feng Miao project, marking consecutive victories in Taiwan’s second development phase.
Taiwan plans to secure 5.7 GW of offshore wind power by 2025 and add 15 GW by 2035, creating what the company estimates could be a 5 trillion won submarine cable market. LS Cable has also been expanding globally, with plans for a $681 million Virginia factory and recent contract wins in the UK’s National Grid program.
Swancor Renewable Energy, which developed Taiwan’s first commercial offshore wind farm Formosa 1, is betting on the project despite regulatory uncertainties that have delayed several competing developments across the Taiwan Strait.
