LS Cable & System and LS Marine Solution step up subsea cable supply and installation for Taean Offshore Wind Farm

[Financial News] LS Cable & System and LS Marine Solution are securing production and installation schedules for the subsea cables needed for the 504-MW Taean Offshore Wind Farm project and are working to sign the main contract within the year.
The two companies said on the 2nd that they had signed a CRA with Taean Wind Power Generation for the supply and installation of subsea cables. A CRA is an agreement that secures schedules for cable production facilities and installation vessels ahead of the main contract.
Selected as the preferred negotiating parties in 2024, the two companies are currently reviewing product specifications and the scope of installation through cable engineering and preliminary surveys. They plan to finalize detailed terms, including the contract amount, and sign the main contract within the year. The agreement is understood to mark a stage in which they first secure the schedules needed for production and installation and negotiate specific supply and installation terms.
Taean Offshore Wind Farm is a project being jointly developed by Korea Western Power Co., Ltd., Singaporean renewable energy company Vena Energy, and Danish renewable energy investment and development firm Copenhagen Infrastructure Partners (CIP). It will be built offshore near Taean County in South Chungcheong Province, with completion targeted for 2030.
This is the second large-scale offshore wind project in which LS Cable & System and LS Marine Solution are participating together, following the Shinan Ui Offshore Wind Project. The two companies are pursuing the project through an integrated system that covers everything from cable production to installation. LS Marine Solution plans to deploy its subsea cable-laying vessel GL2030, which has been upgraded and expanded to a 7,000-tonne class.
Drawing on their experience carrying out projects at home and abroad, the two companies plan to expand their business opportunities in South Korea’s offshore wind market, which aims to reach 55 GW of capacity by 2035.
A representative of LS Cable & System said, “Because subsea cables are installed in the special conditions of the offshore environment, it is important to closely coordinate cable production and installation to improve on-site responsiveness and accountability.” The representative added, “We will ensure the main contract proceeds smoothly and expand our push into the domestic offshore wind market.”


[email protected] Park Ji-yeon Reporter