South Korea's top wire and cable maker LS Cable & System Ltd. said Monday it has bagged a high-voltage cable supply deal worth around 2 trillion won (US$1.51 billion) from the Netherlands.
Under the deal with Dutch state power firm TenneT, LS Cable will supply the high-voltage direct current (HDVC) cables for a grid project linking a wind farm in the North Sea with Germany and the Netherlands.
LS Cable said the contract marks the largest-ever power transmission project in which the cable maker participates.
LS Cable had formed a consortium with Belgian builders Jan De Nul and Denys in a bid to clinch the deal, and it plans to supply 525 kilovolt submarine and underground cables from 2026.
HVDC is more economic than common alternating current for transmitting large amounts of power point-to-point over long distances. At long distances, the HVDC transmission scheme generally has lower losses than a typical transmission link.
In October last year, LS Cable passed a long-term reliability test, a prerequisite for bidding in the TenneT project, the cable maker said.
LS Cable said it has stepped up efforts to meet growing demand for high-voltage cables, including the construction of an HDVC plant on South Korea's east coast.
The company said it is planning to make additional investments in order to meet rapidly expanding demand for HDVC cables from Europe and North America.
Source: Yonhap News Agency