Gaon Cable Enters Floating Solar Market for the First Time, Supplying KRW 17 Billion Worth of Cables

[Financial News] Gaon Cable is entering South Korea’s floating solar market for the first time, beginning with the supply of approximately KRW 17 billion worth of cables. The company aims to expand its power-infrastructure business in the renewable-energy sector by extending the use of its conduit-integrated cables (ACF), previously supplied to land-based solar projects, to floating solar facilities. 
Gaon Cable announced on the 14th that it would supply approximately KRW 17 billion worth of ACF cables to major domestic floating solar projects, including Seokmun Lake and the Saemangeum Floating Solar Farm.
This supply contract marks Gaon Cable’s first floating solar project and the first application of ACF cables to a floating solar facility. Following their supply to the Bigeumdo Island land-based solar project in 2023, the company has expanded the application of ACF cables to floating solar. 
ACF is a conduit-integrated cable featuring a protective aluminum sheath around the power cable. It can be installed without separate conduits, reducing construction steps and shortening the project timeline.
Gaon Cable developed large-gauge, long-distance products in response to the growing scale of floating solar farms. The solution is designed to improve installation and maintenance efficiency in line with the characteristics of floating solar facilities, where construction takes place on the water’s surface.
Large-scale floating solar projects are being pursued in South Korea, and demand for related power infrastructure is expected to grow. The government plans to build a floating solar complex with a total capacity of 1.2 gigawatts (GW) in Saemangeum by 2030. Building on this initial supply, Gaon Cable plans to expand its participation in follow-up projects and step up its efforts to capture the domestic floating solar market.
Gaon Cable is expanding its high-value specialty-cable business, focusing on large-scale power-infrastructure markets such as AI data centers (AIDCs), solar power facilities and power plants. The company plans to strengthen its market competitiveness with differentiated product lines, including ACF, low-friction cables and cable buses.
Jeong Hyun, CEO of Gaon Cable, said, "We will continue expanding the application of ACF not only in renewable-energy fields, including floating solar, but also across various power-infrastructure sectors such as railways and roads." 

[email protected] Im Su-bin Reporter