Joint venture set up for Taiwan’s first subsea power cable factory
Denmark-headquartered cable manufacturer NKT has signed the necessary agreements with Taiwanese Walsin Lihwa for the establishment of the recently announced joint venture that will support the construction of the first subsea power cable factory in Taiwan.
NKT’s delegation visited the head office of Walsin Lihwa in Taiwan to ceremonially sign the joint venture and associated service and technology licensing agreements.
The final constitution of the joint venture is subject to customary regulatory procedures.
“We warmly welcome NKT’s visit to Taiwan and are delighted to embark on a promising joint venture together. It’s a great honor for us to work with NKT, a world-class submarine power cable company renowned for its management, product, and technology excellence,” said Yu-Lon Chiao, Chairman of Walsin Lihwa.
“The win-win cooperation between the two companies shall accelerate Walsin Lihwa’s submarine cable business development to contribute significantly to the green energy sector in Taiwan.”
As announced in February, NKT is entering the joint venture to provide technical support for the construction of the Taiwanese subsea power cable factory, which will produce high- and medium-voltage AC offshore power cables mainly for the Taiwanese offshore wind market.
During its visit to Taiwan, the cabling company will also inspect the land on the coast in Kaohsiung where the factory is set to be built.
“I am pleased to visit Taiwan and meet our new partners. The joint venture is a long-term commitment between Walsin Lihwa and NKT and we are excited to start the construction of the factory later this year,” said NKT’s President and CEO, Alexander Kara.
“We expect high growth in the Taiwanese market in the coming decades and this partnership is an important first step for NKT to establish a presence and a platform for future growth in the region.”
The factory is expected to undergo trial runs by the end of 2025 and start full production in 2027.