The Korean cablemaker, in collaboration with the Institute of Energy, will establish a mutual cooperation system and explore business opportunities to apply superconducting cables to Vietnam’s power grid.
May 13, 2024
Korean cablemaker LS Eco Energy has signed a Memorandum of Understanding (MoU) with the Institute of Energy (IE) under Vietnam Energy (EVN) on a superconducting cable business.
The two parties plan to establish a mutual cooperation system and explore business opportunities to apply superconducting cables to Vietnam’s power grid.
LS Cable & System became the first company in the world to commercialise superconducting cables in 2019 at the Heungdeok-Singal substation section in Yongin-si, Gyeonggi-do. This remains the only track in commercial operation in the world.
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Superconducting cables utilise the phenomenon of superconductivity, in which electrical resistance disappears at low temperatures, to maximise transmission efficiency. If power expansion is required due to an overload, the transmission capacity can be increased by more than five times by simply replacing cables.
In addition, when building a new city, civil engineering costs can be reduced to less than 1/20 by replacing power conduits that are about 3 m high with pipes that are about 1 m. This can minimise environmental impacts by preventing electromagnetic waves and reducing the size and number of substations and transmission towers.
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“In Vietnam, electricity shortages will worsen due to urbanisation and the construction of large-scale data centres by global companies. We will expand our business based on the technical experience of LS Cable & System and the local experience of LS EcoEnergy,” said Mr. Lee Sang-ho, CEO of LS Eco Energy.
