LS Cable & System Secures 160 Billion KRW Offshore Wind Supply Deal in Taiwan... 10th Consecutive Win

Formosa 4 Project Supply Contract
Key Government Offshore Wind Commercialization Initiative
Value Chain Established with LS Marine Solution

LS Cable & System has secured its 10th consecutive order in the Taiwanese offshore wind power market, solidifying its position in the Taiwanese submarine cable sector.

On September 1, LS Cable & System announced that it recently signed a submarine cable supply contract worth approximately 160 billion KRW for the Formosa 4 project. Formosa 4 is a 495MW-class offshore wind farm being developed by Synera Renewable Energy (SRE), located 18 kilometers off Taiwan's western coast. It is a key project in the second phase of Taiwan’s offshore wind power commercialization initiative.

Since signing its first submarine cable contract in Taiwan in 2019, LS Cable & System has won all projects (a total of eight) in the first phase of commercialization. The company then secured the first project of the second phase, Fengmiao, and now has achieved another consecutive win with Formosa 4.

An LS Cable & System representative stated, "LS Cable & System has accumulated business experience in Taiwan by collaborating with major global developers such as Denmark’s Orsted and Copenhagen Infrastructure Partners (CIP). These consecutive contract wins are the result of this experience and the trust we have built."

The competitive edge that LS Cable & System has established in Taiwan is also being extended to its subsidiary, LS Marine Solution. In April, LS Marine Solution secured a submarine cable installation contract in Taiwan, becoming the first domestic submarine construction company to expand overseas. Based on LS Cable & System’s global network, a value chain spanning from production to construction has been established.

Taiwan plans to secure 5.7GW of offshore wind power by 2025 and add another 15GW by 2035, creating a total capacity of over 20GW. As a result, the submarine cable materials and construction market alone is expected to exceed 5 trillion KRW in the future.