Under the deal worth USD 30.51 million, LS Eco Energy will supply high-voltage cables to Energinet, a Danish state-owned energy company, for three years.
April 24, 2024
Korean power cable maker LS Eco Energy Limited has signed a high-voltage cable project deal worth USD 30.51 million with a public energy company in Denmark.
As per LS Eco Energy, a subsidiary of Korean power cable manufacturer LS Cable & System, it will supply high-voltage cables to Energinet, a Danish state-owned energy company, for three years.
Earlier on April 11, LS Eco Energy CEO Lee Sang-ho announced that the company has supplied high-voltage cables to Denmark. The 220 kV underground cables, worth USD 13 million, will be used to build an inland power grid connecting the Thor Offshore Wind Farm in the North Sea.
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LS Eco Energy, which started exporting cables to Denmark in 2017, has established itself as number one player in the Danish high-voltage cable market along with LS Cable & System. The company sees this as recognition of its technology for high voltage cables in Europe, which may be called the home of cables.
It was established by LS Cable & System in 1996 for the purpose of entering the domestic market in Vietnam. The company has now established itself as a major export company of Vietnam, with exports to Europe and North America accounting for 30 percent of sales.
“Demand for electric wires is rapidly increasing worldwide due to the construction of offshore wind farms, replacement of old power grids, and construction of data centers. We will improve profitability by expanding exports of high-value, high-voltage cables,” said Lee Sang-ho, CEO of LS Eco Energy.
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Over the last eight years, LS Eco Energy has supplied the European country with cables totaling over 1,000 kilometers in length.
Denmark’s largest offshore wind farm, Thor, having capacity of 1 GW, will be built 22 km from a North Sea port. Scheduled to be completed in 2027, the farm will supply electricity to about one million households.
