NEWS

      Title LS Cable & System to supply submarine cables worth KRW 100 billion to western U.S.
      Date 2024-07-02

       

      Photograph) LS Cable & System is constructing submarine cables at the U.S. offshore wind farm.


      ■ Following the first supply to the western U.S., additional orders are expected through strengthened cooperation with power grid companies
      ■ California to build large-scale power grid and renewable energy by 2035
      ■ To expand global submarine business with LS Green Link/LS Eco Energy


      LS Cable & System announced on the 2nd that it has signed a contract to supply submarine cables worth KRW 100 billion with LS Power Grid California, a U.S. power grid operator.  

      This contract is for LS Cable & System to supply submarine cables to the western United States for the first time, and the company is expected to use this opportunity to further solidify its position in the U.S. market. 

      The cable will be installed on the Sacramento River northeast of San Francisco, and will stabilize the power system by connecting the southern and northern power grids. 

      In addition, if the State of California (CA) builds an offshore wind farm on the northern coast in the future, it will also be part of a power grid project that will connect to San Francisco. 

      CA plans to invest approximately $6.1 billion by 2035 to build 26 new power grids and more than 85GW of renewable energy. LS Cable & System expects that the large-scale renewable energy grid project promoted by CA will continue to expand the market. 

      ​The U.S. submarine cable market is expected to continue its growth due to replacement of old cables, development of renewable energy, and rapid increase in power demand due to AI and EVs. 

      LS Cable & System is expanding its global submarine business by promoting localization of production in the US, UK, and Vietnam through its subsidiaries LS Green Link and LS Eco Energy. 

      LS Power Grid California is a subsidiary of LS Power, an American company specializing in energy infrastructure development and investment. LS Power was established in New York in 1990 and is working on major energy projects throughout North America.  

       

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