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LS Marine Solution's submarine cable-laying vessel GL2030. / Courtesy of LS Cable & System

LS Cable & System and LS Marine Solution have signed a preliminary agreement to supply and install submarine cables for the 504-megawatt (MW) Taean Offshore Wind Power Project. The companies have secured schedules for cable production facilities and installation vessels in advance to lay the groundwork for the project, aiming to sign a definitive contract by the end of the year.

LS Cable & System and LS Marine Solution said on Nov. 2 that they had signed a Capacity Reservation Agreement (CRA) with Taean Wind Power for the supply and installation of submarine cables.

A CRA is an agreement to reserve schedules for cable production facilities and installation vessels ahead of a definitive contract. The two companies, selected as preferred bidders in 2024, have taken a further step toward participating in the project through the agreement. They are currently reviewing product specifications through cable engineering and preliminary surveys and plan to finalize detailed terms, including the contract amount, and sign a definitive contract by the end of the year.

The Taean Offshore Wind Power Project is being jointly developed by Korea Western Power, Singapore-based renewable energy company Vena Energy and Danish renewable energy investment and development firm Copenhagen Infrastructure Partners (CIP). The project will be built in waters off Taean County in South Chungcheong Province, with completion targeted for 2030.

This is the second large-scale offshore wind project involving both LS Cable & System and LS Marine Solution, following the Shinan Uui Offshore Wind Power Project. LS Cable & System will manufacture the submarine cables, while LS Marine Solution will handle installation. LS Marine Solution plans to deploy its GL2030 submarine cable-laying vessel, which has been expanded and retrofitted to the 7,000-ton class.

The two companies plan to expand their presence in South Korea's offshore wind market through an integrated system covering everything from cable production to installation. With the government targeting 55 gigawatts (GW) of offshore wind capacity by 2035, their strategy is to gain experience in large-scale projects and secure additional business opportunities.

"Because submarine cables are installed in the unique environment of the sea, it is important to closely coordinate cable production and installation to improve on-site responsiveness and accountability," an LS Cable & System official said. "We will proceed with the definitive contract without setbacks and expand our presence in the domestic offshore wind market."

                                                                                                            Lee Seo-yeon