LS Cable & System secured a 907.3 billion won ($690 million) contract to supply ultra-high voltage cables for a German offshore wind project, expanding its footprint in Europe’s renewable energy sector.
The South Korean cable manufacturer will provide 525kV submarine and underground cables to TenneT Offshore, a German unit of Dutch state-owned grid operator TenneT, for its LanWin5 project. The deal runs through September 2031.
The agreement marks the latest in a series of major European contracts for LS Cable. Last year, the company landed a 2 trillion won deal with TenneT for North Sea wind farm cables, followed by two additional contracts worth 1.5 trillion won.
European nations are racing to expand offshore wind capacity as they transition away from fossil fuels. Germany aims to install at least 30 gigawatts of offshore wind power by 2030, creating opportunities for cable suppliers.
TenneT, which manages power grids in Germany and the Netherlands, has emerged as a key customer for LS Cable as it develops transmission infrastructure to connect offshore wind farms to mainland power networks. The company will also handle electrical connections and testing for the project.
The contract value represents about 14.6% of LS Cable’s recent sales.
