LS Cable wins 2-trillion-won supply deal from the Netherlands

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LS Cable wins 2-trillion-won supply deal from the Netherlands

Published: 08 May. 2023, 17:00

LS Cable & System's high-voltage direct current cable plant in Gangwon [LS CABLE & SYSTEM]

LS Cable & System won a 2-trillion-won ($1.5 billion) high-voltage cable supply deal from the Netherlands.

Under the deal with Dutch state-run TenneT, LS Cable will supply the high-voltage direct current cables (HVDC) for a grid project linking a wind farm in the North Sea with Germany and the Netherlands.

LS Cable formed a consortium with Belgian builders Jan De Nul and Denys in a bid to clinch the deal and plans to supply 525-kilovolt submarine and underground cables from 2026.

It marks the largest-ever power transmission project in which the cable maker will participate, LS Cable & System said.

HVDC is more economic for transmitting large amounts of power point-to-point over long distances. At long distances, the HVDC transmission scheme generally has lower losses than a typical transmission link.

LS Cable in October passed a long-term reliability test, a prerequisite for bidding in the TenneT project, the cable maker said.

"We have been revamping our capacity amid the growing demand for high-voltage cables," LS Cable said in a statement. "We are currently considering more investment as the market is quickly growing in Europe and North American regions."

LS Cable recently completed construction of a HVDC plant in Gangwon, the largest of kind in Asia.

BY SARAH CHEA, YONHAP [chea.sarah@joongang.co.kr]