South Korean cable manufacturer LS Cable & System said Monday it has secured a 160 billion won ($114.8 million) submarine cable supply contract for the Formosa 4 project, marking its tenth consecutive order in the Taiwanese offshore wind power market.
The Formosa 4 project, led by Taiwan-based Synera Renewable Energy, is a 495-megawatt offshore wind farm being developed about 18 kilometers off Taiwan’s western coast, and a core initiative under the Taiwanese government’s second-phase offshore wind commercialization plan.
LS Cable has been a major player in Taiwan’s offshore wind sector since signing its first submarine cable contract there in 2019. The company successfully won all eight projects under the first phase, and has now secured two consecutive orders in the second phase — Fengmiao and Formosa 4.
“LS Cable has a strong record of cooperation with global developers such as Denmark’s Orsted and Copenhagen Infrastructure Partners,” a company official stated. “The repeat orders demonstrate the trust we have built with partners in Taiwan.”
The company’s momentum is also extending to its subsidiary LS Marine Solution, which earlier this year became the first Korean subsea contractor to win an overseas project.
Taiwan plans to add more than 20 gigawatts of offshore wind capacity by 2035, creating an estimated 5 trillion won market for submarine cables and installation. LS Cable said it will continue to expand its presence through LS Marine Solution to capture growth opportunities in the region.
hyelimchung@heraldcorp.com
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