Foxwell Energy has contracted LS Cables and Systems to supply extra-high-voltage submarine cables for the construction of wind farms under Taiwan’s First Offshore Wind farm project. The current contract value, flexible, is USD 76 million. The wind farms, to be constructed by 2035, are expected to generate power equivalent to 21 GW of nuclear reactor units.

March 29, 2023

LS Cables and Systems (LS C&S) has concluded the agreement with Foxwell Energy to supply extra-high-voltage submarine cables amounting to approximately USD 76 million towards the construction of eight projects under the First Offshore Wind Farm Project in Taiwan. The project is backed by the Taiwan Power Company (TPC) and the total contract amount is expected to increase along with the additional orders once the agreement moves forward.

Watch: RR Kabel | Solar Cables | Solar Plant | Renewable Energy

Taiwan is planning to finish the construction of a 5.5 GW wind farm through the first project by 2025 and build another 15 GW wind farm by 2035. These farms would have a capacity equivalent to approximately 21 GW of nuclear reactor units.

LS C&S spokesperson stated, “With the additional orders being placed this year, we expect the submarine cable market to be worth approximately USD 1.5 billion.”

He further added, “We are exploring ways to expand our business through our cooperation with KT Submarine and entering the construction market based on our superb submarine cable manufacturing capabilities and experience.” LS C&S has recently acquired shares in KT Submarine, a company specializing in submarine cable construction. There are only five companies worldwide that can provide both manufacturing and construction of submarine cables, and LS C&S is the only company with such capabilities in South Korea.

Also Read: HFCL secures INR 283 crore order from Gujarat Metro Rail Corporation for Surat Metro Rail Project

LS C&S has also further strengthened its cooperation with other global offshore wind business operators such as Ørsted and CIP based in Denmark, Jan De Nul based in Belgium, and WPD based in Germany through their respective projects as it continues to accelerate its expansion in the European and North American markets.