LS Cable & System CEO Koo Bon-kyu (center) poses for a commemorative photo after signing an MOU

 for the Firefly Floating Offshore Wind Project with Equinor, Norway’s state-owned energy company, 

at “BIXPO 2024” held in Gwangju on the 6th. (LS Cable & System)

According to Pulse by Maeil Business News Korea,

LS Cable & System Ltd. and Norway’s state-owned energy company Equinor ASA have agreed to collaborate on a floating wind farm project off the east coast of South Korea.

LS Cable announced on Wednesday that the two companies signed a Memorandum of Understanding (MOU) for the Ulsan Firefly Floating Wind Farm.

The Firefly Floating Wind Farm project is Korea’s first large-scale floating offshore wind initiative led by Equinor to develop a 750-megawatt wind farm that will be located approximately 70 kilometers off the coast of Ulsan by 2030.

Unlike traditional fixed-bottom wind farms, floating offshore wind turbines are installed on floating structures, enabling power generation in deepwater areas. Global demand for this technology is growing as available coastal installation space becomes limited.

LS Cable has pioneered the development of dynamic submarine cables for floating offshore wind power in Korea, ensuring durability in harsh marine environments and achieving international certification. Dynamic cables are a high-tech solution that can withstand strong waves and currents while delivering stable power transmission. Few companies in the world have achieved this capability.

LS Cable & System Chief Executive Officer Koo Bon-kyu expressed the company‘s commitment to further enhance the value chain of the subsea business.


By Cho Yun-hee and Chang Iou-chung

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (November 7, 2024)