LS Cable & System announced on the 10th that it has secured a 200 billion won high-voltage power cable supply project from the Singapore Power Supply Authority.
This project is part of a large-scale energy infrastructure development project to transmit electricity generated from solar power in Indonesia to Singapore. LS Cable & System will supply 230 kV high-voltage cables for the underground transmission section connected to the substation. The project will be executed in a turn-key manner, including manufacturing, construction, and installation of the cables.
The Singapore government is pursuing a policy to convert 6 GW of renewable energy, corresponding to 25% of total electricity, by 2035. In particular, as the method of building the power grid using only underground cables without constructing transmission towers is adopted, demand for high-value underground cables is surging.
A representative from LS Cable & System noted, "This order recognizes the company's technological strength and credibility in a highly competitive global market," adding, "With the supply of underground cables, there is a high possibility of expanding business into the submarine cable sector in the future."
Currently, LS Cable & System is also in negotiations for additional underground cable sections. The contract size is approximately 150 billion won, and if the negotiations are finalized, the total order amount will increase to about 350 billion won.
LS Cable & System has maintained its position as the number one player in the Singapore high-voltage cable market for over 10 years along with LS Eco Energy. LS Eco Energy is currently reviewing a project in cooperation with Vietnam's state-owned PetroVietnam Group to transmit offshore wind power from Vietnam to Singapore via submarine cable.