LS Cable & System announced on the 1st that it has signed a supply contract for subsea cables worth about 160 billion won in Taiwan.
LS Cable & System will supply subsea cables for the 'Formosa 4' project, a 495MW offshore wind farm being developed 18 km off the west coast of Taiwan by Synera Renewable Energy (SRE).
The Taiwan government is operating a phase 1 commercialization project to provide 5.7GW of offshore wind power by 2025, and a phase 2 project that will produce 15GW of offshore wind power from 2026 to 2035. Since securing its first subsea cable contract in Taiwan in 2019, LS Cable & System has won eight phase 1 commercialization projects. In the phase 2 project, it has secured a total of two contracts, including Formosa 4.
LS Cable & System said, "We have accumulated business experience by collaborating with major global developers, such as Denmark's Ørsted, in Taiwan," adding, "The continuous contract achievements are the result of this experience and trust."