LS Cable & System announced on the 11th that it has signed a contract to supply its German subsidiary, Tennet Offshore, with a project for an offshore wind farm in Germany from the Dutch state-owned power company Tennet.
The contract amount is 907.3 billion won, which corresponds to 14.59% of last year's revenue. The contract period runs from the 12th to Sept. 30, 2031.
In this project, LS Cable & System will supply high-voltage direct current (HVDC) 525 kilovolt underwater and underground cables, accessories, and other materials, and will conduct electrical connection work and on-site tests.
Earlier, LS Cable & System secured a contract worth over 2 trillion won from Tennet for the supply of offshore wind farm HVDC cables in the North Sea in May of last year. By the end of last year, it had signed two main contracts worth 1.5 trillion won.
HVDC allows transmission of large amounts of current over long distances compared to alternating current (AC), making it increasingly adopted in long-distance transmission networks. It is also used in renewable energy networks such as offshore wind and solar power.
In particular, as offshore wind projects and interconnections between national power grids are actively expanding in Europe, the demand for HVDC cables is on the rise.